Moody’s rates Rumo Ba2

Moody's Investors Service said it assigned a Ba2 corporate family rating to Rumo SA with a stable outlook.

“Rumo's Ba2 corporate family rating reflects its relevant market position as the largest independent rail operator in Brazil, with operations in the South and Southeastern regions, an area that is responsible for 80% of Brazil's GDP and approximately 80% of the country's grain exports that lacks the appropriate railroad transportation capacity,” the agency said in a press release.

The outlook reflects expectations Rumo will execute its capital expenditures program in the next 12-18 months, while benefiting from a significant global demand for agricultural products, maintaining financial discipline and adequate liquidity, Moody’s said.

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