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Standard & Poor's on Tuesday raised its corporate debt rating for Hypermarcas, the Brazilian drugmaker and consumer goods producer, from to "BB-" to "BB" on the global scale.
The outlook for the rating, S&P said in a statement, is stable. The upgrade reflects improved profitability and operational efficiency at the company, as well as reduced exposure to exchange rate fluctuations, S&P said.
Reporting by Alberto Alerigi; Editing by Lisa Shumaker