S&P affirms Raizen

S&P said it affirmed its BBB- global scale and brAAA national scale corporate credit ratings on Raízen Combustíveis SA and Raízen Energia SA.

The agency also affirmed the BBB- issue-level rating on Raízen Fuels Finance SA's outstanding unsecured notes due 2027.

In addition, S&P affirmed the brAAA rating on Raízen Energia's debentures.

The outlook is stable.

The agency said the affirmation reflects an expectation that the acquisition of Royal Dutch Shell's downstream assets in Argentina for $950 million will have a limited impact on Raízen's leverage.

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