Moody’s revises Localiza view to negative

Moody’s Investors Service said it revised the outlook for Localiza Rent a Car SA to negative from under review and confirmed the Ba2 global scale and Aa1.br national scale corporate family ratings and senior unsecured debt ratings.

These actions conclude the review started on April 9, Moody’s said.

“The outlook change to negative reflects our expectations that Localiza’s credit metrics will deteriorate and remain strained in 2020 due to the coronavirus outbreak and its impact on air travel and ground transportation,” Moody’s said in a press release.

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