Moody’s assigns Ba2 to Nexa notes

Moody’s Investors Service said it assigned a Ba2 rating to Nexa Resources SA’s proposed senior unsecured notes due January 2028. The notes will be guaranteed by Nexa Resources Cajamarquilla SA, Nexa Resources Peru SAA and Nexa Recursos Minerais SA.

Proceeds will be used primarily for liability management, and therefore, the transaction will improve Nexa’s debt maturity profile and will help lower funding costs and interest expenses, with no effect on leverage, the agency said.

The outlook is negative.

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