On March 27, we received an investment grade rating from S&P Global Ratings. The rating agency upgraded the company's rating from BB + to BBB- and confirmed their stable outlook.
These ratings are an evaluation of credit quality and reflect the agency's opinion on the ability of an issuer—whether a company or a government—to honor its financial obligations, fully and on time. In the case of S&P Global Ratings, the ratings range from D (lowest) to AAA (highest).
In addition to the S&P classification, we also have a BBB- investment grade rating from Fitch Ratings.
"This recognition is the result of the work and commitment of the entire Votorantim Cimentos team to build a better company every day, with responsibility in cost management and customer focus," said Gabriela Woge, treasurer and director of Global Investor Relations.