Fitch ranks Simpar above Brazil

Fitch ranks Simpar above Brazil

Corporate & Sovereign Strategy Debt Equity Brazil Capital Markets Commerce Credit Ratings Fitch Ratings Upgrade Bonds Fixed Income Debenture

Fitch Ratings has upgraded Brazil's Simpar by one notch to BB, putting the holding company into a "select group" of issuers that rank higher than Brazil's sovereign rating, according to a securities filing on Monday. Fitch also upgraded two Simpar subsidiaries – logistics company JSL and car rental firm Movida – to BB from BB- with a negative outlook. Fitch assigns Brazil a BB- rating with a negative outlook. "This is a very solid BB position," Renato Mota from Fitch told LatinFinance. "They hav

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