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Moody’s might lift Embraer notes
Moody's Investors Service said it placed the Ba1 rating of Embraer SA's senior unsecured notes under review for upgrade.
Embraer's Ba1 corporate family rating is unchanged.
The agency said the review for upgrade of the senior unsecured notes is a consequence of the agreement between Embraer and Boeing to create a joint venture focused on the commercial aviation segment and the expectation that the senior unsecured notes will be transferred to the joint venture.
Embraer will contribute its assets and liabilities related to the commercial aviation business into the new entity, including the senior unsecured notes issued by Embraer or its subsidiaries and guaranteed by Embraer, Moody’s said.
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