Latin America-focused Atento repays $26.7 million more debentures

By Susanna Moon

Chicago, April 28 – Atento SA said it paid another $26.7 million of its Brazilian debentures as part of an accelerated debt reduction plan and capital allocation strategy.

After the repayment, the outstanding principal amount was $134.9 million on Thursday.

The first voluntary amortization amount of $30 million was paid Dec. 26.

“As we highlighted during our March earnings call, we continue to accelerate the paydown of our higher-cost Brazilian debentures, reinforcing our commitment to strengthen our balance sheet and our cost of capital, and to enhance our financial flexibility,” Mauricio Montilha, Atento's chief financial officer, said in a company press release.

“The second prepayment of our higher-cost Brazilian debentures was made possible by our commitment to disciplined capital allocation and strict working capital management to improve free cash flow before net interest.”

Montilha added that Moody's Investors Service has reaffirmed its ratings for Atento Luxco at Ba3/stable on March 27, “recognizing Atento's efforts to maintain its stable credit metrics despite the macroeconomic headwinds in Brazil and other operating markets.”

Based in Madrid, Atento provides of customer relationship management and business process outsourcing services in Latin America.

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