S&P lifts Hypermarcas view to positive

S&P said it revised the outlook on Hypermarcas SA to positive from stable.

The agency also said it affirmed the company’s BB+ long-term corporate credit rating and brAA+ national scale corporate and debt credit ratings.

The recovery rating on Hypermarcas’s debt remains at 3, which reflects 50% to 70% expected default recovery.

S&P also said it withdrew the BB+ global scale credit rating on the senior unsecured notes because the company fully prepaid them in April 2016.

The outlook revision reflects a possible upgrade if Hypermarcas maintains a stable EBITDA generation, despite weak consumption in Brazil, and continues to post strong credit metrics, the agency said.

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