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