Moody's: Valid notes Ba2

Moody's America Latina said it assigned a Ba2 corporate family rating to Valid SA. At the same time, Moody's assigned a Ba2 global scale rating and Aa3.br national scale rating to Valid's proposed R$100 million debentures.

The outlook is stable.

"The assigned ratings are supported by Valid SA's established market position in ID and SIM cards, its long-term relationship with key clients, the increased relevance of value-added products in its product portfolio, and prudent financial management," Moody's analyst Filippe Goossens said in a news release.

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