Fitch Upgrades Rossi's rating to "A+(bra)"
São Paulo, February 8, 2012 - Rossi (BM&FBovespa: RSID3;
OTC: RSRZY), one of Brazil's leading property developers
and builders, announces that Fitch Ratings upgraded the
National Long Term Credit Rating of Rossi Residencial S.A.
from "A (bra)" to "A+(bra)". The rating outlook is
Stable.
In its note, Fitch emphasized that "the rating upgrade
reflects the maintenance, on a conservative basis, of
Rossi's financial profile, which is supported by its sound
liquidity position, its long debt maturity profile and its
limited exposure to corporate debt in 2012 and 2013. The
rating action also incorporates the company's capacity to
maintain a satisfactory operational performance in 2011,
despite the scenario of strong competition and greater cost
pressures, as well as the outlook for more robust operating
cash flow, driven by the higher volume of unit deliveries
through 2013. Fitch expects Rossi to continue to
conservatively manage its liquidity, while maintaining a
healthy cash reserve."
Sincerely,
Cássio Elias Audi
CFO and Investor Relations Officer
Rossi Residencial S.A.
For more information please go to www.rossiresidencial.com.br/ri.
Investor Relations:
Tel: +55 (11) 4058-2685
ri@rossiresidencial.com.br
Recommend:
