Moody's rates Fravega notes B2

Moody's Latin America said it assigned a B2 local-currency rating and an A1.ar national scale rating to the proposed issuance of A$50 million in domestic market bonds in Argentina by Fravega SA. Fravega's B2 local-currency corporate family rating and A1.ar Argentina national scale rating were affirmed.

The outlook is stable.

The proceeds will be used for capex needs, to refinance short-term debt and for working capital purposes.

The agency said the ratings are constrained by Fravega's tight liquidity profile, low geographic diversity and relatively small scale.

However, Moody's said the ratings also reflect Fravega's position as one of the largest dedicated retailers of consumer electronics and appliances in Argentina.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.