|Expense Ratio (net)||N/A|
|Last Cap Gain||N/A|
|Morningstar Risk Rating||N/A|
|Beta (5Y Monthly)||N/A|
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Moody's Investors Service, ("Moody's") downgraded Fogo De Chao, Inc.'s ("Fogo") corporate family rating to Caa1 from B3, its probability of default rating to Caa1-PD from B3-PD and its senior secured bank facilities rating to Caa1 from B3. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Fogo De Chao, Inc. New York, May 04, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Fogo De Chao, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service, ("Moody's") downgraded Fogo De Chao, Inc.'s ("Fogo") corporate family rating to B3 from B2, its probability of default rating to B3-PD from B2-PD and its B2 senior secured bank facilities rating to B3 from B2. Fogo will offer some take-out options that will provide some cash flow support. The negative outlook reflects uncertainty around the duration of unit closures and pace of the rebound once the pandemic begins to subside.