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Prospect News home > News index > List of issuers F > Headlines for Fibria Celulose SA > News item |
Moody's gives Fibria notes Ba1
Moody's Investors Service said it assigned a Ba1 foreign currency rating to the proposed $500 million senior unsecured notes due 2024 issued by Fibria Overseas Finance Ltd. and fully and unconditionally guaranteed by Fibria Celulose SA.
The outlook is positive.
Proceeds will be used to prepay part of the company's outstanding notes due 2021 and to reduce gross debt.
Moody's said the Ba1 rating reflects Fibria's leading position as the largest producer of market pulp in the world and its competitive production costs, which are among the lowest worldwide based on structural advantages in Brazil relative to international peers.
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