March 11, 2019 |
Brazil's BR Malls Participações is preparing to issue BRL500m ($129m) in debentures in the local market, according to a report from Fitch.
The mall operator will use the proceeds to pay off outstanding debt and for general corporate purposes, Fitch said.
Fitch gave the new notes a AAA(bra) rating with a stable outlook on the local scale, in line with the agency's long-term national rating for BR Malls. Fitch also gives BR Malls a BB long-term rating issuer default rating in foreign currency.
Brazilian shopping mall operator looks to raise $129m to pay off debt