Moody's gives Simpar a Ba3

Moody's gives Simpar a Ba3

Capital Markets Brazil Credit Ratings Moody's Investors Service

Moody's has assigned Brazilian holding company Simpar with a first-time rating of Ba3, three steps below investment grade, it said in a report on Wednesday. Simpar, which owns logistics company JSL and car rental firm Movida among others, bases its business model on "long-term service agreements, a wide service portfolio, diverse client base and cross-selling opportunities," which allow it to operate in times of downturns, Moody's said. The holding company also has good liquidity, and its subsid

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