Moody’s assigns BRK notes Ba2/Aa2.br

Moody’s Investors Service said it assigned Ba2/Aa2.br ratings to BRK Ambiental Participacoes SA’s new debenture issuance of R$450 million due in 2021. This issuance will be the seventh.

Proceeds refinanced the maturing debentures from the fourth issuance of these notes. The new debentures have an 18-month tenor from the issuance date in May, with the principal paid at maturity while interest will be paid semi-annually starting in November.

The debentures have a conditional corporate guarantee from BRK Ambiental - Ativos Maduros SA. Also, they contain standard acceleration clauses, including cross-default provisions with other outstanding debt from both BRK and Ativos Maduros, Moody’s said.

At the same time, Moody’s affirmed BRK’s Ba2/Aa3.br corporate family ratings.

The outlook is stable.

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