CCR Corporate Rating

Agency Rating
Standard & Poor’s brAA-/ Stable
Fitch AA (bra)/ Positive Perspective
Moodys Ba2 / Aa2.br/ Negative Perspective

Indebtedness

(R$ MM) Dec/15 Mar/16 Jun/16 Sep/16 Dec/16 Mar/17 Jun/17 Sep/17 dez/17 mar/18
Gross Debt (with transaction cost)* 15,617.61 16,148.5 16,002.3 16,274.9 17,489.8 16,276.9 15,719.9 15,851.0 17,993.9 18.373,5
% Real-Denominated 81% 84% 83% 83% 85% 85% 85% 86% 90% 93%
% Foreign Currency-Denominated 19% 16% 17% 17% 15% 14.7% 14.9%  14% 10% 7%
Short Term 6,470.14 6,738.4 5,273.3 5,557.9 5,895.5 5,863.4 4,998.8  3,855.5 4,061.6 3.320,7
% Real-Denominated 89% 83% 77% 79% 74% 75% 80% 74% 84% 80%
% Foreign Currency-Denominated 11% 7% 23% 21% 26% 25% 20% 26% 16% 20%
Long Term 9,147.47 9,410.1 10,729.0 10,717.0 11,594.2 10,413.5 10,721.0 11,995.5 13,932.3 15.052,8
% Real-Denominated 75% 77% 86% 85% 90% 91% 88% 90% 91% 96%
% Foreign Currency-Denominated 25% 23% 14% 15% 10% 9% 12% 10% 9% 4%
Cash, Financial Investments 2,724.27 3,017.7 2,091.1 3,080.3 3,084.3 5,584.6 3,599.7 3,887.0 5,007.3 5.312,4
Receivable/Payable Swap Settlements 470.00 160.4 (33.5) (66.9) (37.8) (66.7) 159.1 163.2 284,0 342,2
Net Debt 12,423.4 12,970.5 13,944.6 13,261.5 14,443.3 10,759.0 11,961.0  11,800.7 12,702.6 12.718,9

* Pro forma data, considering proportionally all companies of which CCR does not have control or jointly-owned subsidiaries (ex IFRS 10 and 11).

Debt Breakdown – Not Hedged*
(R$ MM) Index Average Cost per year Mar/18 %
BNDES TJLP TJLP + (2.0% –  4.00% p.a.) 4,519.3 24.5%
Local Bond, Credit Deposit and other CDI (106.25% – 129.3%) of CDI, CDI + (0.60% – 3.95% p.a.) 8,108.1 43.9%
Local Bond IPCA IPCA + (4.4963% – 7.34% p.a.) 4,559.3 24.7%
Dolar USD LIBOR 3M + (2.20% – 2.60% p.a.) / LIBOR 6M + (2.20% – 3.75% p.a.) / Prime Rate + 4.75% / 4.20% – 10.65% p.a. 1,281.4 6.9%
Other Pre Fixed 6.14% – 16.49% p.a. 11.1 0.1%
Total 18,479.2 100.0%
Debt Breakdown – Hedged*
(R$ MM) Index Average Cost per year Mar/18 %
BNDES TJLP TJLP + (2.0% –  4.00% p.a.) 4,519.3 24.5%
Local Bond, Credit Deposit and other CDI (88.75% – 129.3%) of CDI, CDI + (0.60% – 3.95% p.a.) 10,349.5 56.0%
Local Bond IPCA IPCA + (4.4963% – 7.34% p.a.) 2,067.2 11.2%
Dolar USD LIBOR 3M + (2.20% – 2.60% p.a.) / LIBOR 6M + (2.20% – 3.75% p.a.) / Prime Rate + 4.75%/ 4.20% – 10.65% p.a. 923.5 5.0%
Other Pre Fixed 6.14% – 16.49% p.a. 619.8 3.4%
Total 18,479.2 100.0%

* Pro forma data, considering proportionally all companies of which CCR does not have control or jointly-owned subsidiaries (ex IFRS 10 and 11).

Debt Amortization Schedule *
Years R$ MM % Total
2018 3,131.6 16.9%
2019 2,657.5 14.4%
2020 3,247.9 17.6%
2021 1,657.0 9.0%
From 2022 7,785.2 43.1%
Total 18,479.2 100.0%

* Pro forma data, considering proportionally all companies of which CCR does not have control or jointly-owned subsidiaries (ex IFRS 10 and 11).

Amortization – 1Q18 (R$ MM) 2018 2019
AutoBan 819 675
Metrô Bahia 604 387
BH Airport 420 0
RodoAnel Oeste 306 0
CCR Espanha S.L.U. 236 0
SPVias 200 242
NovaDutra 173 160
ViaLagos 70 0
ViaQuatro 66 670
 Samm 60 0
CCR S.A. 42 0
ViaOeste 13 186
RodoNorte 13 161
Others 4 62
TOTAL 3,027 2,544

 

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