Moody's: Gafisa unaffected

Moody's Investors Service said that Gafisa SA's corporate family ratings are unaffected by the acquisition of the remaining 20% stake in Alphaville Urbanismo SA from Alphaville Participacoes SA for R$359 million through a non-cash share exchange involving the issuance of new shares.

"In our view, the transaction is credit positive because the company will not use its existing cash balance nor further leverage its balance sheet to acquire the remaining stake in the company," Moody's analyst Marcos Schmidt said in a news release.

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