Moody’s gives Centrovias debt Ba3/A1.br

Moody's America Latina said it assigned ratings of a Ba3/A1.br (respectively, in global scale and Brazil’s national scale) to Centrovias Sistemas Rodoviarios SA’s planned R$100 million senior secured debentures due in 2019.

The agency also affirmed Centrovias’ senior unsecured and senior secured ratings at Ba3/A1.br.

At the same time, Moody’s assigned a Ba3/A1.br corporate family ratings to the company and withdrew its´s Ba3/A1.br issuer rating.

The outlook was changed to positive from negative.

“The a3/A1.br rating reflects the long history of tolling operations of Centrovias and the company´s strong credit metrics for the rating category,” Moody’s said in a news release.

“Centrovias is located in a well-developed and economically diversified region in the State of Sao Paulo (Ba2, negative).

“We expect Centrovias to post relatively stable cash flows during the remaining life of the concession. The ratings are further supported by our assessment of company’s shareholders,” the agency added in the release.

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