Moody’s gives Eldorado Brasil Ba3

Moody's Investors Service said it assigned a Ba3 corporate family rating to Eldorado Brasil Celulose SA.

The outlook is stable.

“Eldorado's Ba3 rating mainly reflects the company's adequate credit metrics and very strong operational performance, with average EBITDA margins of 60% since 2015,” the agency said in a news release.

“Eldorado has the lowest-cost operation in the global pulp industry as a consequence of its privileged location, forest availability and integrated process into a state-of the-art plant.”

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