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S&P gives brAAA to Jalles Machado debentures
S&P said it assigned a brAAA national scale issue-level rating to Jalles Machado SA's (global scale: BB/stable/--; national scale: brAAA/stable/--) proposed fourth senior unsecured debenture.
The issue will amount up to R$375 million, with maturity in 2030 and 2033, and annual amortization starting in 2030 and 2031 for the different tranches.
S&P also assigned a 3 recovery rating, reflecting recovery in the range of 50%-70% (rounded estimate: 65%) to the creditors in a hypothetical default scenario.
The proceeds will be used for investments, expenses, or debt payments for the 2024-2030 harvests.
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