KLABIN S.A. CNPJ: 89.637.490/0001-45
Klabin S.A. ('Company', BM&FBovespa: KLBN11; KLBAY) announces to the market that Standard & Poor's has reaffirmed the investment grade rating to the Company, with rating at 'BBB-' (Investment Grade) in the global scale and 'brAA+' in national scale, maintaining the negative rating outlook.
On September 10th, 2015, S&P downgraded the sovereign rating of Brazil to BB + and placed the Klabin's rating on 'CreditWatch' condition with negative implications. After careful evaluation of the current situation and stress scenarios exercises considering the sovereign default, the agency concluded that the Company's ability to redirect is production to other markets in case of unfavorable conditions in the domestic market and its cost structure based in local currency are factors that mitigate its exposure to Brazilian country risk. The agency also emphasizes the expectation of quick deleverage with the start up of Puma Project operation in March 2016.
To read the full report from Standard & Poor's click here: http://ri.klabin.com.br/fck_temp/5_45/file/RatingsDirect_Research%20Update_Klabin_ May-16-2014.pdf
São Paulo, October 27th 2015
Antonio Sergio Alfano
Chief Financial Officer and IR Director
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