S&P rates Odebrecht Finance notes BBB-

Standard & Poor's said it assigned a BBB- debt rating to the proposed notes to be issued by Odebrecht Finance Ltd.

Construtora Norberto Odebrecht SA unconditionally and irrevocably guarantees the notes.

The issue will be senior unsecured and the proceeds will be used to finance the company's operations, S&P said.

The agency said it will continue to assess the company's business risk profile as satisfactory, based on a view that it will keep benefiting from its strong market position.

The company has a competitive edge as an innovative and experienced engineering and construction company, due largely to its close relationship with governments in the countries where it operates, S&P said.

The agency also said it expects infrastructure investments in Latin America to remain strong in the next several years, even assuming an increasingly challenging global economic environment because countries in the region are striving to catch up with domestic growth.

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