Fitch assigns Embraer bond BB+

Fitch Ratings said it assigned a BB+ rating to Embraer Netherlands Finance BV’s proposed 2028 benchmark sized senior unsecured bonds. Embraer Netherlands Finance is a wholly owned subsidiary of Embraer SA. The notes will be guaranteed by Embraer SA and Yabora Industria Aeronautica SA (100% controlled by Embraer).

Proceeds of $250 million will be used for a tender for the 2022 and 2023 notes. The remaining proceeds will be used for general corporate purposes.

Fitch rates Embraer’s long-term (lt) foreign currency and local currency issuer default ratings BB+ and long-term national scale rating AAA(bra).

The outlook for Embraer SA’s corporate ratings is negative.

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