Moody's rates OAS notes B1

Moody's Investors Service said it assigned a B1 corporate family rating to OAS SA and to its proposed $200 to $300 million perpetual notes to be issued by OAS Finance Ltd., a wholly owned finance subsidiary of OAS SA.

The notes will be unconditionally and irrevocably guaranteed by OAS SA, Construtora OAS SA and OAS Investimentos SA.

The outlook is stable.

The net proceeds will be used primarily for equity contribution in OAS infrastructure business (concession and non-concession companies), mainly through OAS Investimentos.

The rating of the notes and the stable outlook assume that the final transaction documents will not be materially different from draft legal documentation reviewed by Moody's to date and assume that these agreements are legally valid, binding and enforceable, the agency said.

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