Fitch gives B2W BB+, notes BB

Fitch Ratings said it assigned a BB first-time foreign-currency issuer default rating and a BB+ first-time local currency IDR to B2W Companhia Digital (B2W Digital). Fitch also gave a BB rating to B2W Digital’s proposed senior unsecured global notes due in 2030 at benchmark size. The notes will be sold through its wholly owned subsidiary, B2W Digital Lux Sarl and will be guaranteed by B2W Digital.

“B2W Digital’s ratings are supported by the consolidated credit profile of its parent company, Lojas Americanas SA. (Americanas, FC IDR BB/negative and LC IDR BB+/stable). Fitch’s analysis applied its parent and subsidiary rating linkage criteria and considered the strong legal, operational and strategic ties between the two companies,” the agency said in a press release.

Proceeds will be used to extend the company’s debt profile.

The outlook for the local-currency IDR is stable and negative for the foreign-currency IDR. Fitch said the negative outlook on the foreign-currency IDR reflects the direct link to the country’s sovereign rating of BB-with a negative outlook.

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