S&P gives B2W, notes BB

S&P said it gave BB ratings to B2W Companhia Digital SA and its planned senior unsecured notes. S&P also assigned brAAA national scale rating to B2W.

Subsidiary B2W Digital Lux Sarl will sell the notes that B2W will guarantee. The agency also assigned a 3 recovery rating to the notes, which indicates a recovery of 50%-70% (rounded estimate: 50%) in the event of default.

S&P said it considers B2W a core subsidiary of Lojas Americanas SA and B2W’s rating mirrors S&P’s rating on the parent, the agency said.

“We forecast the consolidated group’s revenue will rise 8.5%-10.5% in 2020 stemming from the e-commerce unit’s growth above the industry average, offsetting weak results at physical stores that were closed because of lockdowns,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.