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Accessibility Contrast Corporate
A+ A-

Debt and Credit Rating

Rating

Agency Type of Rating Rating Perspective Last Review Report
Standard & Poor’s Corporate brA+ Stable March 26, 2026
Standard & Poor’s Corporate brA+ Stable October 29, 2025
Standard & Poor’s 9th Issue of Debentures brA+ Stable September 26, 2025
Standard & Poor’s 8th Issue of Debentures brA+ Stable June 06, 2025
Standard & Poor’s 7th Issue of Debentures brA+ Stable May 12, 2025

Debt Composition

Debt Annual Interest Rate  Balance (R$ thousand)
Total Bank Debt 1,626,263
Working Capital TR + 4.34% 14,335
7th Debenture Issuance CDI – 0.11% 396,106
8th Debenture Issuance IPCA + 7.9% 444,290
9th Debenture Issuance IPCA + 7.9% 814,516
(-) Transaction Costs (42,987)
M&A Debt 364,754
Lease Liabilities Payable 91,285
Total Gross Debt 2,082,302
(-) Total Liquidity (480,146)
Net Debt 1,602,156
Leverage (Net Debt / Annualized Proforma EBITDA) 2.20x

Debt Schedule (R$ million)