NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned a 'BBB' rating to Brazil's USD3.25 billion bond issuance maturing in 2025. The bonds have a coupon rate of 4.25%.
The proceeds will be used, in part, to purchase securities maturing between 2017 and 2030, and for general budgetary purposes.
KEY RATING DRIVERS
The rating is in line with Brazil's long-term foreign currency Issuer Default Rating (IDR) of 'BBB', which has a Stable Outlook.
RATING SENSITIVITIES
The rating would be sensitive to any changes in Brazil's long-term foreign currency IDR. Fitch affirmed Brazil's ratings at 'BBB' with Stable Outlook on July 18, 2013.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Sovereign Rating Criteria' (Aug. 13, 2012).
Applicable Criteria and Related Research:
Sovereign Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685737
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=806039
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