Guararapes Confecções (RIAA3), owner of Riachuelo, announced on Monday, November 9, 2026, that Moody's Local Brasil has initiated coverage of the company and assigned it an AA-.br rating, with a stable outlook. The agency also assigned Midway S.A. - Sociedade de Crédito, Financiamento e Investimento its first rating, A+.br, also with a stable outlook.
According to Moody's, Guararapes' rating reflects its "solid business profile," supported by scale, its prominent position as one of the country's leading fashion retailers, and business diversification. The agency also cites the consistent track record of improving profitability and reducing leverage in recent years, as well as a predictable financial policy and adequate liquidity.
Regarding Midway, Moody's says the rating reflects its integration into the Riachuelo ecosystem, which offers recurring access to customers, proprietary distribution channels, and transactional data that support the offering of financial products. Midway's credit profile is supported by comfortable capitalization and the ability to generate financial and service revenues.
Guararapes also holds a national rating from Fitch Ratings of AA-(bra) on the long-term national scale, with a stable outlook.
