S&P lifts Construtora Norberto Odebrecht

Standard & Poor's said it raised its long-term global scale corporate credit rating on Construtora Norberto Odebrecht SA to BBB from BBB-.

At the same time, S&P affirmed the brAAA/brA-1 national scale ratings. The outlook is stable.

S&P said the upgrade is based on the company's low leverage and margin resilience, while it maintains a prudent financial discipline that prioritizes profitability over top-line revenues growth.

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