Moody’s reviews Valid for cut

Moody's Investors Service said it placed the Ba2 global scale and Aa3.br national scale corporate family ratings of Valid SA on review for downgrade.

The review for downgrade of Valid's ratings reflects the current uncertainties related to the coronavirus outbreak and its impacts on the company's operations and liquidity.

“The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets,” the agency said in a news release.

“More specifically, Valid's operations will be negatively impacted by the shut-down of some of its operating sites in the identification division (issuance of I.D.s and driver´s license) in Brazil and in the U.S.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.