Moody's upgrades Hypermarcas

Moody's Investors Service said it upgraded Hypermarcas SA's corporate family and senior debt ratings to Ba2 from Ba3 on its global scale and to A1.br from A2.br on its national scale. The outlook is stable.

"The upgrade reflects the improvement in Hypermarcas' credit metrics observed over the last few quarters, mainly as a result of its focus on core business assets, organic growth and deleveraging," Moody's vice president Marianna Waltz said in an agency news release.

Hypermarcas' ratings are also supported by its solid business model through the pharma and consumer segments, a large and strong portfolio of brands and leading positions in its respective markets, the agency said.

The potential lack of performance predictability evidenced by Hypermarcas' sharp and unexpected slowdown in 2011 offsets part of the positive attributes, Moody's said.

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