Fitch Afirms Rating ‘A(bra)’ by Tegma; Stable Outlook
TEGMA GESTÃO LOGÍSTICA S.A. (“Tegma” or “Company”), an integrated logistics provider and individual leader in the brand new vehicle logistics segment, communicates to its shareholders and market in general the reaffirmation of the local corporate rating assessed by Fitch.
On May 4, 2020, Fitch released a report communicating the reaffirmation of local corporate rating A (bra) on the Brazilian national scale, with stable outlook.
The Company’s Management believes that the reaffirmation of this rating with a stable outlook at the moment of the current crisis means the sum of factors arising from our business model, such as our history of effectiveness in cutting costs and expenses, as carried out in recent crises and, finally, conservatism in terms of liquidity that the Company has always presented.
According to Fitch: “The statement reﬂects Fitch’s view that Tegma has enough operational and ﬁnancial ﬂexibility to cope with a significantly weaker level of activity during the second quarter of 2020 without affecting its credit profile. The company has a relevant liquidity position, which allows it to withstand cash burns in the coming months and fully service its debt until the end of the year – considering a resumption of business in the third quarter. Positively, the company has low financial leverage, which makes it possible that the drastic reduction in EBITDA does not put a strong pressure on its indicators”.
The report can be found at this link (in portuguese).
São Bernardo do Campo, May 05, 2020.
Ramón Pérez Arias Filho
CFO and Investor Relations Officer
Ian Nunes, (11) 4397-9423, firstname.lastname@example.org
William Santos, (11) 4397-9399, email@example.com