Embraer Returns to Investment-Grade Status After Four Years

-- Planemaker Embraer SA had its debt upgraded to investment-grade status for the first time since the onset of the pandemic, joining a select group of high-grade Brazilian corporates.Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public TransportFitch Ratings upgraded the company’s credit score to BBB-, one level above junk, from BB+, according to a Friday statement. The outlook is stable.

Embraer, which was cut to junk in the early days of the coronavirus pandemic, is among a handful of Brazilian firms — including miner Vale SA and pulp producer Suzano SA — rated investment grade, according to data compiled by Bloomberg. The recovery in deliveries and improved credit metrics sparked an outlook change at Moody’s Ratings earlier this month. S&P Global Ratings had already upgraded the firm’s debt to BBB- in February, while Moody’s still scores it a notch into junk.

The upgrade reflects the company’s growing backlog of orders and profitability, Embraer Chief Financial Officer Antonio Carlos Garcia said in a statement.Los Angeles Sparks guard Layshia Clarendon retires after 12 years in the WNBA

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber Kicks Off Its First Bond Sale as Investment-Grade Company(Bloomberg) -- Uber Technologies Inc. is tapping the US investment-grade bond market for the first time since it attained blue-chip status.Most Read from...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

China Life Profit Rises as Market Lifts Investment Returns(Bloomberg) -- China Life Insurance Co., the nation’s largest life insurer by market share, said profit rose 11% in the first half as an improving stock...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

FP Answers: How does emotional intelligence affect retirement planning and investment returns?Ability to understand, interpret and respond to your emotions — and those of others — is critical for investing success
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Exclusive-Embraer taps Oliver Wyman to help it in US defense market, eyeing C-390 salesEmbraer has hired consultancy firm Oliver Wyman to help it explore the U.S. defense market, the head of the Brazilian planemaker's defense unit said, as it...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »