December 6, 2012
Fitch has upgraded the rating of JSL to BB from BB minus, it says, highligh
Fitch has upgraded the rating of JSL to BB from BB minus, it says, highlighting expanding cash flow despite Brazil’s sluggish growth. The logistics specialist finds itself in an improved competitive position due to investments, Fitch says, and has a commitment to a strong liquidity position vis-a-vis its short-term obligations. Between 2008 and September, JSL's net revenue increased by 102% to BRL2.8bn ($1.3bn). The outlook is stable.