Fixed Income

Financial Strategy and Debt Facilities

Atento's financial strategy is based on the following principles:

  • Liquidity risk managed by maintaining a disciplined maturity profile in line with cash flow generation
  • Financial Flexibility and Cost efficiency
  • Debt denominated in local currency or hedged through derivatives when denominated in foreign currency
  • Diversification of financing sources

Credit Ratings

Atento Luxco 1 S.A.

Long-term Outlook Date of last review
Moody's Ba3 Stable 02.11.2016
Fitch BB Stable 12.22.2015
 

Atento Brasil S.A

National Rating Perspective
Fitch AA- (bra) Stable

NOTE: these ratings are only an opinion about the Company solvency and may be revised, suspended or withdrawn at any time by the respective rating agency.

Net Financial Debt

As of December 31,
2013 2014 2015
Cash and cash equivalents 213.5 211.4 184
Short term financial investments - 26.9 -
Debt:
7.375% Senior Secured Notes due 2020 297.7 300.3 301.7
Brazilian Debentures 345.9 245.9 168.1
Vendor Loan Note(1) 151.7 - -
Contingent Value Instruments 43.4 36.4 26.3
Preferred Equity Certificates 519.6 - -
Finance lease payables 11.9 9.0 4.7
Other borrowings 0.6 61.7 74.8
Total Debt 1,370.8 653.3 575.6
Preferred Equity Certificates (519.6) - -
Total Debt excluding PECs 851.2 653.3 575.6
Net Debt with third parties (unaudited) 637.7 415.0 391.6
Adjusted EBITDA LTM (non-GAAP) (unaudited) 295.1 306.4 250.3
Net Debt/Adjusted EBITDA LTM (non-GAAP) (unaudited) 2.2x 1.4x 1.6x

NOTE: For further information, please access Atento S.A. FORM F-1 REGISTRATION STATEMENT

Investor Contact

Lynn Antipas Tyson

+1-914-485-1150

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