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Fitch rates Nexa notes BBB-
Fitch Ratings said it assigned a BBB- rating to Nexa Resources SA’s proposed benchmark-sized note offering. The unsecured notes will be guaranteed jointly and severally by Nexa Resources Peru SAA, Nexa Resources Cajamarquilla SA and Nexa Recursos Minerais SA.
Proceeds will be used to repay bank debt and for general corporate purposes.
Fitch also revised the outlooks for Nexa and its subsidiary Nexa Resources Peru to negative from stable and affirmed their ratings at BBB-.
“Nexa's rating affirmation and revision in outlook to negative mirror that of its ultimate parent, Votorantim SA (VSA, BBB-/Negative), to which Fitch applies its parent-subsidiary linkage criteria as described below,” Fitch said in a press release.
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