- Language: English
- Published: May 2013
- Region: Brazil
Research Update: Virgolino de Oliveira Finance Ltd.?s $200 Million Senior Unsecured Notes Rated ?B?; Credit Ratings On Parent Affirmed Jan 12
- Published: January 2012
- Standard & Poors
Virgolino is seeking to improve its liquidity and fund capital expenditures by issuing long-term debt. We are assigning our 'B' rating to finance subsidiary's approximate $200 million note issuance, and affirming our 'B' global-scale and 'brBBB-' Brazilian national-scale corporate credit ratings on Virgolino. The stable outlook reflects our expectations that Virgolino will improve production in the next crop season and benefit from continuing strong prices for sugar and ethanol. On Jan. 24, 2012, Standard & Poor's Ratings Services assigned its 'B' rating to Virgolino de Oliveira Finance Ltd.'s (VOF) approximate $200 million senior unsecured notes. At the same time, we affirmed our 'B' global-scale and 'brBBB-' Brazilian national-scale corporate credit ratings on VOF's parent, a Brazilian sugar and ethanol producer...
Companies mentioned in this report are: Virgolino de Oliveira Finance Ltd,Virgolino de Oliveira S.A. - Acucar e Alcool
Action: New Rating
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Virgolino de Oliveira Finance Ltd,Virgolino de Oliveira S.A. - Acucar e Alcool