Moody's assigns Javer notes Ba3

Moody's has assigned a long-term Ba3 global-scale foreign currency rating to Servicios Corporativos Javer's, SAPI de CV proposed $160 million to $200 million senior unsecured debt issuance.

This is the first time Moody's has rated Javer.

According to the agency, the new notes will have a maturity of five years. In addition, the company will hedge the interest and a portion of the principal against foreign exchange risk.

According to Moody's, the rating reflects Javer's position as one of the largest home developers in Mexico with more than 35 years of real estate experience.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.