Fitch rates Cosan Luxembourg notes BB

Fitch Ratings said it assigned a BB rating to Cosan Luxembourg SA's proposed up to $750 million senior unsecured notes due 2034 that are unconditionally and irrevocably guaranteed by Cosan SA (Cosan).

The proceeds will be used for debt refinancing.

Fitch currently rates Cosan's foreign currency and local currency issuer default ratings BB/outlook stable and national scale long-term rating AAA(bra)/outlook stable.

“Cosan's credit profile benefits from its strong and diversified asset portfolio, underpinned by leading positions in key business segments. The ratings incorporate the continued strengthening of cash generation by its subsidiaries,” Fitch said in a news release.

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