Fitch assigns BB+ to Klabin notes

Fitch Ratings said it assigned a BB+(EXP) rating to the proposed 2027 senior unsecured notes to be issued by Klabin Finance SA, and guaranteed by Klabin SA.

Note proceeds, which are expected to total $500 million, will be used to finance and/or refinance eligible green projects.

Fitch currently rates Klabin's Long-term foreign currency and local currency issuer default ratings BB+/stable.

Fitch said the ratings reflect the company's leading position in the Brazilian packaging sector, large forestry base that provides it with a low production cost structure, as well as its high degree of vertical integration, which enhances its product flexibility in the competitive but fragmented packaging industry. Klabin's consistently strong liquidity position was also incorporated in the ratings.

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