CCR Corporate Rating

Agency Rating
Standard & Poor’s brAA-/ Negative
Fitch AA (bra)/ Stable 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
Gross Debt (with transaction cost)* 15,617.61 14,776.6 16,002.3 14,947.2 16,186.5 16,276.9 15,719.9 15,851.0
% Real-Denominated 81% 89% 83% 87% 88% 85% 85% 86%
% Foreign Currency-Denominated 19% 11% 17% 13% 11.8% 14.7% 14.9%  14%
Short Term 6,470.14 6,370.1 5,273.3 5,102.4 5,391.8 5,863.4 4,998.8  3,855.5
% Real-Denominated 89% 95% 77% 80% 75% 75% 80% 74%
% Foreign Currency-Denominated 11% 5% 23% 20% 25% 25% 20% 26%
Long Term 9,147.47 8,406.5 10,729.0 9,844.8 10,794.8 10,413.5 10,721.0 11,995.5
% Real-Denominated 75% 85% 86% 91% 95% 91% 88% 90%
% Foreign Currency-Denominated 25% 15% 14% 9% 5% 9% 12% 10%
Cash, Financial Investments 2,724.27 2,606.2 2,091.1 2,708.5 2,821.2 5,584.6 3,599.7 3,887.0
Receivable/Payable Swap Settlements 469.96 92.0 (33.5) (32.9) 9,0 (66.7) 159.1 163.2
Net Debt 12,423.38 12,078.4 13,944.6 12,271.7 13,356.3 10,759.0 11,961.0  11,800.7

* 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 Sep/17 %
BNDES TJLP TJLP + (2.0% – 3.45% p.a.) 3,782.4 22.7%
Local Bond, Credit Deposit and other CDI (106.1% – 129.3%) of CDI, CDI + (0.95 – 4.5% p.a.) 6,028.5 42.6
Local Bond IPCA IPCA + (2.71% – 7.34% p.a.) 3,887.9 19.8%
Dolar USD LIBOR 3M + (0.8% – 4.25% p.a.) / LIBOR 6M + (2.2% – 2,50% p.a.) / 4.1% – 10.65% p.a. 2,198.1 14.8%
Other Pre Fixed 5.5% – 7.7% p.a. 11.9 0.1%
Total 15,908.8 100.0%
Debt Breakdown – Hedged*
(R$ MM) Index Average Cost per year Sep/17 %
BNDES TJLP TJLP + (2.0% – 3.45% p.a.) 3,782.5 22.7%
Local Bond, Credit Deposit and other CDI (71.8% – 129.3%) of CDI, CDI + (0.95% – 4.5% p.a.) 8,876.4 66.3%
Local Bond IPCA IPCA + (5.428% – 7.34% p.a.) 1,665.2 5.9%
Dolar USD LIBOR 3M + (2.05% – 4.25% p.a.) / LIBOR 6M + (2.2% – 2.50% p.a) / 4.2% – 10.65% p.a. 975.7 5.0%
Other Pre Fixed 5.5% – 7.7% p.a. 609.1 0.1%
Total 15,908.9 100.0%

* 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
2017 1,342.7 8.4%
2018 3.916.4 24.6%
2019 4,411.3 27.7%
2020 1,492.5 9.4%
From 2021 4,745.9 30.8%
Total 15,908.8 100.0%

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

Amortization – 3Q17 (R$ MM) 2017 2018
Conces ViaRio S.A. 424 18
AutoBan 218 751
NovaDutra 192 157
ViaOeste 112 0
CCR Espanha S.L.U. 97 0
CCR USA Airport 80 32
SPVias 74 249
RodoAnel Oeste 53 275
Metrô Bahia 39 602
CCR S.A. 23 850
BH Airport 7 388
RodoNorte 7 172
Aeris Holding 5 0
ViaLagos 3 68
Others 9 356
TOTAL 4,207 4,073

 

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