Moody's assigns XP, notes Ba2

Moody's Investors Service said it assigned a Ba2 corporate family rating to XP Inc. and a Ba2 rating to XP's planned backed senior unsecured note due 2024 and 2026. Subsidiary XP Investimentos SA will guarantee the notes.

“Moody's said XP's Ba2 CFR reflects its leading position as a full-service securities company offering a broad array of market-making and brokerage services to retail and institutional clients in Brazil's growing capital markets. XP's ratings reflect its reasonable liquidity, relatively low risk appetite in its market-making activities and its strong historical profitability derived from diverse sources of revenue that has helped it maintain healthy levels of capital,” the agency said in a press release.

XP intends to use the proceeds for general corporate purposes.

XP's outlook is stable.

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