Fitch affirms Localiza Rent a Car

Fitch Ratings said it affirmed Localiza Rent a Car SA's long-term foreign currency issuer default rating at BB and its long-term local currency issuer default rating at BBB-.

Fitch also affirmed the national scale ratings for Localiza and its wholly owned subsidiary Localiza Fleet SA at AAA(bra).

The outlook is stable.

“The ratings continue to reflect the group's prominent business position within the competitive car and fleet rental industry in Brazil, with strong operational efficiency,” the agency said in a news release.

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