Sao Paulo, February 26, 2016 -- Moody's America Latina Ltda. downgraded Localiza Rent a Car S.A's ("Localiza") senior unsecured rated debt to Ba2 from Baa3. The national scale ratings were also downgraded to Aa2.br from Aa1.br . At the same time Moody's assigned a Ba2 corporate family rating in the global scale and Aa2.br in the national scale. The outlook was changed to negative.

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