May 11, 2018 / 1:38 PM / a year ago

Brazil exchange operator B3 targets lower leverage ratio by mid-2019

SAO PAULO, May 11 (Reuters) - Brazilian financial exchange operator B3 Brasil Bolsa Balcão forecast net debt will decrease relative to operating profits, its head of investor relations Rogerio Santana said in a conference call with journalists on Friday.

Santana said B3’s net debt/EBITDA ratio, a commonly used gauge of leveraging, will decrease to 1.1 times by mid-2019, compared to 2 times in the last 12 months. B3 reinforced it is not likely to change its payout policy, which should drive it to hand over between 70 and 80 percent of net income to investors in 2018. (Reporting by Aluisio Alves Editing by Chizu Nomiyama)

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