Fitch turns Suzano outlook to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed Suzano SA's long-term foreign- and local-currency issuer default ratings at BBB- and national scale long-term rating at AAA(bra). The outlook for the national scale long-term rating is stable.

“The outlook revision reflects strong operating cash flow generation due to a substantial recovery in pulp prices, which will allow Suzano to reduce leverage during 2021. Fitch projects net debt/EBITDA ratio around 2x in 2021 with net debt falling to about $10 billion from $12.4 billion at the end of 2020,” the agency said in a press release.

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