Fitch turns Simpar, JSL view to positive

Fitch Ratings said it changed the outlooks of Simpar SA and JSL SA to positive from stable. Simpar is JSL’s holding company.

Concurrently, Fitch affirmed the long-term foreign and local currency issuer default ratings of the companies at BB- and the long-term national scale ratings at AA-(bra). Fitch also affirmed Simpar Europe's and Simpar Finance Sarl's senior unsecured debt ratings at BB-.

“The positive outlook reflects expectations Simpar will continue to strength its operational cash generation and manage its consolidated leverage at more moderate levels. Simpar's ratings reflect its strong business profile, leading position in the Brazilian logistics industry and diversified service portfolio,” Fitch said in a press release.

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