S&P assigns BR Malls BB-

Standard & Poor's said it assigned its BB- long-term corporate credit rating to BR Malls Participações SA.

The outlook is stable.

The agency said that the ratings reflect the company's higher leverage after relevant debt-funded acquisitions, which are part of the company's ambitious growth plans and potentially pressure its financial profile and the company's exposure to increasing competition from other players that are also well capitalized and seek to consolidate the still-fragmented shopping mall market in Brazil.

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