Moody's lifts BR Malls view to stable

Moody's Investors Service said it affirmed BR Malls Participações, SA's global scale corporate family and senior unsecured ratings at Ba2, as well its national scale, corporate family rating and senior unsecured ratings at Aa1.br.

The agency also said it revised the company's outlook to stable from negative.

The ratings reflect the stronger-than-expected rebound of Brazil's economy and the company's dominant size and scale as the largest owner of shopping malls in Brazil, Moody's said.

The ratings also consider its strong, low levered balance sheet with ample liquidity, the agency added.

The company is well positioned to meet about R$1.1 billion of debt obligations due in the next two years, Moody's noted.

These credit strengths are offset by the portfolio's dip in occupancy rate from its pre-crisis average level of 97%, as well as its moderately elevated lease maturity risk, the agency said.

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