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Moody's: BR Malls notes Ba1
Moody's said it assigned a Ba1 rating to the U.S. dollar senior unsecured perpetual notes of BR Malls International Finance Ltd.
The agency also affirmed other existing ratings of BR Malls Participacoes, SA. The outlook remains stable.
The agency said the rating action incorporates BR Malls' position as the largest owner and manager of shopping centers in Brazil. The company's portfolio boasts high occupancy levels, north of 97% on a consistent basis, with a well-diversified presence throughout Brazil and more importantly, a keen strategy in targeting all income segments in its customer base.
The rating is also supported by BR Malls' demonstrated good execution in the debt and equity markets.
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