Financial and Market Information

Debt and Rating

  • debt
  • rating
Liability Management

Itaúsa carries out the prudent management of its liabilities and maintenance of healthy leverage levels, among its practices.

After reaching its highest gross debt level (in September 2022), upon completing a R$11 billion investment cycle from 2017 to 2022, Itaúsa implemented its liability management strategy, which provided for:

  • Reduction of gross and net debts
  • Extension of the average term
  • No repayment of principal until 2028
  • Reduction of the debt service

These results ensure the preservation of the holding company’s liquidity levels and the reduction of its refinancing risk.

Gross and net debts
Debt, leverage and interest coverage
Repayment schedule

Debt securities

In recent years, Itaúsa has issued debentures in capital markets to finance the expansion of its portfolio (a R$11 billion investment cycle from 2017 to 2022) and to refinance part of these debts to extend their average maturity.

4th issue of debentures
ISSUE AMOUNT R$ 2.5 billion (Remaining amount: R$ 1.25 billion)
1st serie: R$ 1.25 billion (100% redeemed in advance on 12.21.2023)
2nd serie: R$ 1.25 billion
DATE OF ISSUANCE July 15, 2021
TERM 1st serie: 6 years
2nd serie: 10 years
COST 1st serie: CDI + 1.40% p.y.
2nd serie: CDI + 2.00% p.y.
INTEREST PAYMENT Semiannual – June and December
AMORTIZATION 1st serie: 3 equal installments in Jun/25, Jun/26 and Jun/27
2nd serie: 3 equal installments in Jun/29, Jun/30 and Jun/31
ISSUANCE DEED
6th issue of debentures
ISSUE AMOUNT R$ 1.25 billion
DATE OF ISSUANCE December 13, 2023
TERM Single serie – 8 years
COST CDI + 1.37% p.y.
INTEREST PAYMENT Annual – December
AMORTIZATION 3 equal installments:
Dec/29
Dec/30
Dec/31
ISSUANCE DEED
7th issue of debentures
ISSUE AMOUNT R$ 1.3 billion
DATE OF ISSUANCE July 25, 2024
TERM Single serie – 10 years
COST CDI + 0.88% p.y.
INTEREST PAYMENT Annual – July
AMORTIZATION 3 equal installments:
Jul/32
Jul/33
Jul/34
ISSUANCE DEED

Credit Rating

The long-term credit risk assessment assigned to Itaúsa S.A. by the three
main agencies is “AAA” (maximum rating) on a national scale, with a stable outlook.

  • Moody's Ratings AAA.br

    Perspective Stable

    Scale National

    Last Update 09/06/2024

    REPORT
  • S&P Global Ratings brAAA

    Perspective Stable

    Scale National

    Last Update 07/10/2024

    REPORT
  • Fitch Ratings AAA(bra)

    Perspective Stable

    Scale National

    Last Update 10/31/2024

    REPORT
What is risk rating?

Rating is the assessment of credit quality and the risk classification of a company’s financial health and ability to repay its financial obligations, assigned by specialized agencies.

This classification, represented by a rating, uses a standardized scale to indicate the risk level associated with doing business with the company analyzed. To determine the rating, agencies take into account factors such as the political scenario, corporate governance, financial health, level of debt, business risk and regulatory environment.

Rating is an important indicator for investors, as it offers an independent assessment of the issuer’s likelihood of default, helping support investment decision-making and risk analysis.

*The information provided in this section is updated regularly, but due to the dynamic nature of the market and the rating agencies’ update process, it may not reflect the Company’s most current conditions. We recommend that users refer to the websites of the aforementioned rating agencies directly for updated and complete data.

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