09.06.2016 16:08:00
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Moody's assigns Ba3 rating to Cosan's proposed notes; negative outlook
New York, June 09, 2016 -- Moody's Investors Service today assigned a Ba3 foreign currency rating to Cosan's proposed USD 500 million notes due 2027 to be issued by Cosan Luxembourg S.A. and irrevocably and unconditionally guaranteed by Cosan S.A. industria e Comércio ("Cosan"). The deal is part of Cosan's liability management strategy and net proceeds will be mainly used to tender part of the company's existing notes due 2018 and 2023 and for general corporate purposes. The outlook for the rating is negative.