• Categories
  • Archives

Moody’s Gives Brazil’s Embraer Investment Grade Rating

Moody’s Investor Service, one of the largest and most prestigious rating agencies in the world, initiated coverage of Brazil’s airplane maker Embraer, assigning its Baa3 global local currency issuer rating and an indicative foreign currency debt rating of Baa3.

According to Moody’s rating scale, Baa3 qualifies Embraer as a moderate credit risk without speculative elements, corresponding to investment grade. The indicative foreign currency debt rating of Baa3 is the rating that would be assigned to foreign currency bonds sold under foreign law.

"Assignment to Embraer of an investment grade rating from Moody’s is another important instrument to reduce the cost of capital for our Company, which thrives in a capital-intensive industry," said Maurí­cio Botelho, Embraer President and CEO. "No doubt, this rating reaffirms our commitment to long-term shareholder value creation."

These ratings reflect Embraer’s position in the global aerospace market as one of only a few providers of commercial aircraft in the 30 to 110 seats jet segments and cost-effective Intelligence, Surveillance and Reconnaissance (ISR) aircraft, according to Moody’s assessment.

The ratings also incorporate the benefits of an expanding presence in the global market for commercial jets, including the strength of the Embraer 170/190 jet family, its controlled financial exposure to its primary customer base for these aircraft, its expected continued moderate growth in the defense sector, and the opportunities presented by the Company’s expansion of its product line in the business jet market.

Embraer (Empresa Brasileira de Aeronáutica S.A.) is the world’s leading manufacturer of Commercial jets up to 110 seats, with 36 years of experience in designing, developing, manufacturing, selling and providing after sales support to aircraft for the global airline, defense and business jet markets.

With headquarters in São José dos Campos, state of São Paulo, Brazil, the company has offices and customer service bases in the United States, France, Portugal, China and Singapore.

Embraer is among Brazil’s leading exporting companies. As of September 30, 2005, Embraer had a total workforce of 17,046 people, and its firm order backlog totaled US$ 10.4 billion.

Empresa Brasileira de Aeronáutica S.A. – www.embraer.com.br

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

One Year After US Missionary Murder in Brazil, Three Are Still Waiting Trial

The next trial involving individuals accused of the murder of US-born missionary, Dorothy Stang, ...

Brazil Readies Fresh Troops for Haiti Mission

The fifth contingent of Brazilian soldiers to serve in the UN Stabilization Mission in ...

Brazil: Polls Show Lula Remains Untouched by Scandals over His Aides

Brazilian President Luiz Inácio Lula da Silva popularity remains intact although support for his ...

Brazil Warns Bolivia: Raise Gas Too Much and We Will Stop Buying It

The Brazilian minister of Foreign Relations, Celso Amorim, stated today, May 5, that Brazil ...

Brazil Accuses US of Lying to the WTO on Amount of Farm Subsidies It Grants

The price of suspending the negotiations of the Doha Round in the World Trade ...

Alcohol Makes Brazil Environment Friendly

Among the world’s three largest developing countries, China, India, and Brazil, Brazil has a ...

Eucalyptus Is Making Brazil a Slave of the US and the First World

On January 20, 2006, Aracruz Celulose used helicopters, bombs, guns, tractors and 120 Federal ...

Brazil: In Rio’s Poorest Areas 70% of Birth Certificates Have No Father’s Name

An unprecedented campaign to encourage voluntary recognition of paternity is being promoted in all ...

Only 1.7% of Brazilian Companies Invest in Research and Development

Innovation. This is the key word that every Brazilian entrepreneur should have in mind. ...

Genocide of Indians Has Been All Too Common in Brazil

To mark UN Indigenous Day on August 9, Survival International, the global movement for ...