Fitch to give Omni notes B

Fitch Ratings said it assigned a long-term foreign currency rating of B and a recovery rating of RR4 to Omni SA Credito, Financiamento e Investimento's upcoming issue of senior unsecured notes.

The roughly $30 million notes are under Omni's global medium-term note program of up to $200 million. The final amount, tenor and interest rate will be set at the time of the issuance.

Proceeds will be used to expand lending activities.

Fitch said the rating assigned to Omni's senior unsecured issuance corresponds to the finance company's issuer default ratings of B with a stable outlook. The RR4 recovery rating reflects average recovery prospects for bondholders in case of default.

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