- Language: English
- Published: October 2012
- Region: Brazil
Votorantim Participa??es S.A. 'BBB' Global, 'brAAA' National Scale Ratings Affirmed; Outlooks Remain Stable Dec 11
- Published: December 2011
- Region: Global
- Standard & Poors
Brazil-based conglomerate VPar has sustained stable profitability on strong cash flows from its cement operations, despite weaker margins, mainly in the metals and steel businesses. We are affirming our ratings on VPar, including the 'BBB' global scale and 'brAAA' national scale corporate credit ratings. The stable outlook reflects our view that VPar will sustain a strong cash position and net leverage below 3.0x, with a smooth debt amortization schedule despite more-volatile economic conditions that could add instability to cash flows. SAO PAULO (Standard & Poor's) Dec. 19, 2011--Standard & Poor's Ratings Services said today that it affirmed its ratings, including the 'BBB' global scale and 'brAAA' national scale corporate credit ratings, on Brazil-based corporate conglomerate Votorantim Participa--es S.A. (VPar). The...
Companies mentioned in this report are: Votorantim Participacoes S.A.,Cimpor Cimentos de Portugal, S.G.P.S. S.A.,Voto-Votorantim Overseas Trading Operations III Ltd.,Fibria Celulose S.A.,Voto-Votorantim Overseas Trading Operations V Limited,Voto-Votorantim Ltd.,Votorantim Cimentos S.A.
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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.
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Votorantim Participacoes S.A.,Cimpor Cimentos de Portugal, S.G.P.S. S.A.,Voto-Votorantim Overseas Trading Operations III Ltd.,Fibria Celulose S.A.,Voto-Votorantim Overseas Trading Operations V Limited,Voto-Votorantim Ltd.,Votorantim Cimentos S.A.