Ratings on Ultrapar Participacoes S.A.Affirmed, Outlook Revised to Positive On Stronger Profitability Dec 11
- Language: English
- Published: December 2011
Ultrapar has consistently improved its profitability, and we project that the company will report stable credit metrics despite increased capital expenditures. We are revising our outlook on Ultrapar to positive from stable, while affirming our 'BBB-' corporate credit rating and 'brAAA' national scale rating with a stable outlook. Our positive outlook reflects the possibility of an upgrade if Ultrapar sustains its credit metrics while increasing its capital expenditures and refinancing some of its maturities due late in 2012 and throughout 2013. On Dec. 29, 2011, Standard & Poor's Ratings Services revised the outlook on Brazil-based fuel distribution and petrochemical company Ultrapar Participa--es S.A. (Ultrapar) to positive from stable and affirmed its 'BBB-' corporate credit rating on the company. We revised...
Companies mentioned in this report are: Ultrapar Participacoes S.A.
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