S&P assigns Ambipar notes BB-

S&P said it assigned BB- ratings to Ambipar Participacoes e Empreendimentos SA and its planned senior unsecured seven-year green bond of about $500 million. The company will sell the notes through its subsidiary Ambipar Lux Sarl. The outlook is stable.

“With over R$4.7 billion in revenue and R$1.3 billion in EBITDA in the 12 months ended September 2023, Ambipar has smaller scale than its global peers such as those in the U.S. but larger scale and greater diversification than domestic players,” the agency said in a press release.

S&P added, “We expect Ambipar will benefit from organic growth after several acquisitions in the past two to three yearsand from strong geographic revenue diversification while maintaining strong financial discipline in the next 12-24 months, as shown by cost controls, no new acquisitions, and significant cash on hand.”

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