Fitch revises LLX Acu watch to evolving

Fitch Ratings said it revised the Rating Watch on LLX Acu Operacoes Portuarias SA's R$750 million debentures to evolving from negative.

The revision reflects news that LLX Logistica SA, LLX Acu's sole sponsor, has entered into a statement of commitment with EIG Management Co. LLC to subscribe new shares for R$1.3 billion, Fitch said.

With the transaction, EIG will become the company's controlling shareholder, the agency said.

The exact rating implications for the rated debt remain undetermined and the watch status will be used to gather further information, Fitch said.

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