Moody's assigns Ba3 to Simpar

Moody's Investors Service said it assigned a Ba3 corporate family rating to Simpar SA. This is the first time Moody's is rating the holding company.

Simpar is the holding company for one of the largest logistics and vehicle and equipment rental groups in Brazil, the agency noted.

“The rating is primarily constrained by the group's high consolidated Moody's-adjusted gross leverage of 4.9x in the last 12 months ended March 2022 (excluding the credit-linked notes) resulted from its fast growth strategy coming from both organic and inorganic opportunities and from the capital-intensive nature of Simpar's businesses,” the agency said in a press release.

The outlook is stable.

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