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Moody's rates Electronica Megatone B3
Moody's Latin America said it assigned a first-time B3 local-currency corporate family rating and an A2.ar Argentina national scale rating to Electronica Megatone SA.
The outlook is stable.
The agency said the ratings are supported by the company's position as one of the main dedicated consumer electronics and appliance retailers in Argentina, diversified product mix, low adjusted leverage and well-established relationships with suppliers.
The ratings are constrained by Electronica Megatone's retail finance model, with significant credit exposure to consumer loans extended through its own financing source; its relatively small scale; its limited geographical diversification; and the competitive environment, Moody's said.
The total adjusted debt-to-EBITDA ratio was 2.2 times as of the last 12 months ended Feb. 28.
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