S&P rates Natura Cosmeticos notes brAAA

S&P said it assigned its national scale brAAA issue-level rating to Natura Cosmeticos SA's planned five-year senior unsecured debentures of R$1.8 billion. The agency assigned a 3 recovery rating, reflecting average recovery (50%-70%) in default. The issuer’s global scale rating is BB.

Parent Natura & Co Holding SA will guarantee the notes and use the proceeds for debt refinancing including the potential prepayment of the ninth debentures due in September and the tenth debentures due in August 2024. S&P also rates Natural & Co. BB and brAAA.

The outlook is stable.

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