Consumer

MercadoLibre Wins First Investment-Grade Rating With Fitch Upgrade

Fitch Ratings raises e-commerce platform one notch to BBB-
Company expected to report third-quarter results on Wednesday

Signage outside of a MercadoLibre facility in the Bras neighborhood of Sao Paulo, Brazil, on Monday, April 29, 2024. The retail shakeout has reached Brazil, where local players are starting to restructure and consolidate amid stiff competition from foreign giants like Amazon.com Inc., MercadoLibre Inc. and Shein Group Ltd.Photographer: Tuane Fernandes/Bloomberg

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By Leda Alvim and Vinicius Andrade

October 31, 2024 at 8:09 PM UTC

This article is for subscribers only.

MercadoLibre Inc., Latin America’s most valuable company, was upgraded to investment grade for the first time, a boost for the e-commerce company as it moves to gain market share across the region.

Fitch Ratings raised the company’s bonds to BBB-, the lowest investment-grade score, from BB+, according to a statement on Thursday. The outlook is stable.