Fitch assigns MercadoLibre, notes BB+

Fitch Ratings said it assigned a BB+ first-time foreign-currency issuer default rating and a BB+ first-time local-currency IDR to MercadoLibre, Inc.

Fitch also assigned a BB+ rating to MercadoLibre’s proposed senior unsecured notes of roughly $1 billion. MercadoLibre will sell the notes in two tranches. One tranche will be related to environmental, social and governance and sustainability, with proceeds reserved for green projects and/or eligible social projects.

Proceeds from the other tranche will be for general corporate purposes and liability management, including potentially refinancing a portion of MercadoLibre’s convertible notes.

The outlook is stable.

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