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Moody’s rates Hidrovias notes Ba3
Moody’s Investors Service said it assigned a Ba3 rating to the proposed senior unsecured notes due up to 10 years to be issued by Hidrovias International Finance Sarl. Parent Hidrovias do Brasil SA and its fully-owned subsidiaries, except for the bauxite operations subsidiaries, will guarantee the notes.
“The proposed issuance is part of HBSA’s liability management and growth strategies, and proceeds will be used to fund a tender offer for Hidrovias International Finance Sarl’s outstanding $575 million notes maturing in 2025 and for investments in 2021-22,” the agency said in a press release.
Concurrently, Moody’s affirmed HBSA’s Ba3 corporate family rating and the senior unsecured rating on Hidrovias International Finance’s notes due 2025.
The outlook is stable.
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