Fitch gives Localiza AA(bra)

Fitch Ratings said it assigned initial foreign and local currency issuer default ratings of BBB- and an initial long-term national rating of AA(bra) to Localiza Rent a Car SA.

The outlook is stable.

localiza's investment-grade ratings reflect its very strong business position within the car and fleet rental industry, the agency noted, adding that the credit ratings are also supported by the company's historically conservative capital structure and management.

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