Julio Simoes Bonds Get BB Minus

Julio Simoes Bonds Get BB Minus

Brazil

Fitch has assigned a BB minus rating to the proposed 2016 BRL250m debentures of Brazilian logistics company Julio Simoes. The outlook is stable. The ratings reflect the company's solid business profile, supported by its leading position in the Brazilian logistics industry, its moderate financial leverage, and adequate liquidity. The notes will be issued in 3 tranches. A BRL83m 2014 tranche will pay 1.85% over DI, a BRL84m 2015 piece will pay 1.95% over DI, and a BRL83m 2016 piece will pay 2.20%

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