Fitch Assigns First-Time IDR of 'BB-' to Valid S.A.

(The following statement was released by the rating agency)

SAO PAULO, May 23 (Fitch) Fitch Ratings has assigned 'BB-'

Foreign and Local

Currency Long-Term Issuer Default Ratings (IDRs) and an

'AA-(bra)' Long-Term

National Scale Rating to Valid Solucoes e Servicos de Seguranca

em Meios de

Pagamento e Identificacao S.A. (Valid). The Rating Outlook is

Stable. At the

same time, the agency has assigned a Long-Term National Scale

Rating of

'AA-(bra)' to Valid's senior unsecured debentures in th

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