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Moody's rates Invepar Ba3
Moody's Investors Service said it assigned a Ba3 corporate family rating on the global scale and A2.br corporate family rating on the Brazilian national scale to Investimentos e Participacoes em Infra-Estrutura SA (Invepar) and withdrew the Ba3 corporate family rating on the global scale and A3.br corporate family rating on the Brazilian national scale that had been previously assigned to subsidiary Concessão Metroviaria Rio de Janeiro SA (Metro Rio), and assigned it a Ba3 issuer rating on the global scale and A3.br on the Brazilian national scale.
The outlook is stable.
The rating reflects the inherently stable and predictable cash flow of all its subsidiaries, which are supported by long-term concession contracts for toll roads and subway services, Moody's said.
The ratings also consider the financially strong shareholders and experienced management, the agency said.
The company's high leverage and the large amount of near-term debt on a consolidated basis constrain the ratings, Moody's added.
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