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S&P rates Eldorado Brasil B+
S&P said it assigned a B+ long-term corporate credit rating on Eldorado Brasil Celulose SA, along with a B short-term corporate credit rating.
The outlook is stable.
The company’s existing brBBB Brazilian national scale rating is unchanged.
The ratings consider the company’s competitive cost structure thanks to its access to highly productive forest, a new state-of-the-art production unit and efficient logistics, S&P said.
Mitigating factors include its narrow range of business units and productive assets, along with its smaller scale than those of its global peers.
The ratings also reflect the company’s stronger capital structure and lighter balance sheet due to a weaker Brazilian real, which depreciated by 50% in 2015, S&P said.
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