Ratings

In December 2024, S&P revised the Company’s credit rating to BB-, with a stable outlook. In February 2025, Moody’s upgraded the rating to Ba3, also with a stable outlook. Most recently, on August 4, 2025, Fitch reaffirmed the Company’s credit rating at BB, but with a negative outlook.

The table below summarizes the most recent credit ratings:

Agency National Scale Global Scale Last Update Releases
Fitch Ratings BB (Negative) August 04, 2025 National Scale
Standard & Poor´s brAA (Negative) B+ (Negative) January 19, 2026 Global Scale

National Scale

Moody´s Ba3 (Negative) November 17, 2025 Global Scale