S&P ups ALL's rating to A-(bra)

The Brazilian office of credit ratings agency Standard & Poor's ( S&P) has upgraded its corporate rating on Brazilian logistics and transport operator América Latina Logística (ALL) to A-(bra) from BBB+(bra), S&P said in a report. S&P expects ALL to continue its positive financial performance shown in the first quarter 2005 results when Ebitda reached 46.4% compared to 36.5% in 1Q04, while, over the same comparable period, ALL decreased its short-term debt from 235mn reais (US$95mn) to 138mn reais. ALL is increasing its transportation capacity by investing 180mn reais this year, while another 340mn reais are earmarked for 2006. The logistics operator has benefited from Brazil's current export boom in agricultural and industrial goods. The company has a 30-year concession for a 7,185km railway network in the three southern states of Paraná, Santa Catarina and Rio Grande do Sul and also operates in Argentina. To read the entire S&P report in Portuguese, paste the following link into your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=70252&Tx_idioma=P