Moody's: Arcos Dorados unchanged

Moody's Investors Service said the notes redemption of Arcos Dorados BV has no immediate impact on its Ba2 corporate family rating and senior unsecured rating.

The outlook is stable.

Arcos Dorados Holdings Inc. announced that Arcos Dorados exercised its option to redeem 31.42% of the outstanding principal amount of its 7½% senior notes due 2019 at a redemption price equal to 107.5 of the principal amount of the notes with existent cash in its balance sheet. The notes will be redeemed on July 18.

Arcos Dorados expects to reduce its overall cost of funding without increasing its net debt position, the agency added.

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