Fitch gives Invepar BB-

Fitch Ratings said it assigned foreign and local currency issuer default ratings of BB- to Investimentos e Participacoes em Infraestrutura SA (Invepar) and assigned Invepar a long-term national scale rating of A(bra).

The outlook is stable.

Fitch said the ratings reflect the group's solid business profile, based on a diversified portfolio of strong cash-generating assets in the Brazilian infrastructure sector. Invepar's ratings are also based on the robust and already proven financial support capacity of its main shareholders, which include the largest pension funds in the country.

The ratings are constrained, according to Fitch, by the company's highly leveraged capital structure, resulting from a high level of investments. The company has a weak liquidity position.

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