Bulletin: BR Malls Participa??es S.A. Ratings Unaffected By Completed Acquisition Of Shopping Jardim Sul Nov 11
Standard & Poors, November 2011
Abstract
SAO PAULO (Standard & Poor's) Nov. 23, 2011--Standard & Poor's Ratings Services said today that its ratings on BR Malls Participa--es S.A. (BB-/Positive/--) are not affected following the company's announcement that it has concluded the acquisition of Shopping Jardim Sul for R$460 million. We understand that the acquired mall is mature and cash generator, and in our view, the BR Malls' use of available cash in the transaction will have only a marginal effect on its coverage ratios. As a result, we expect the company's credit metrics to continue improving in 2012, albeit at a slower pace, and we consider them to be in line with our 'BB-' long-term corporate credit rating. We consider that the acquired mall supports BR...
Companies mentioned in this report are: BR Malls Participacoes S.A.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
BR Malls Participacoes S.A.
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