Mercado Libre Achieves Full Investment Grade Rating with S&P’s upgrade to ‘BBB-’
In its report, S&P highlighted Mercado Libre’s strong operating performance and improving profitability. It also highlighted the company's conservative balance sheet and noted its ability to sustain solid credit metrics with debt to EBITDA expected to remain below 2.0x and debt-to-tangible equity below 1.0x. The rating also reflects the strength of Mercado Libre’s vertically integrated ecosystem, including its marketplace, logistics, fintech, and advertising businesses, as well as its market leadership across key countries in
“This second investment grade rating—from S&P, following Fitch’s upgrade last year—affirms the strength of our ecosystem, our disciplined execution, and the consistency of our growth,” said
The S&P upgrade from ‘BB+’ to ‘BBB-’ underscores Mercado Libre’s enhanced financial and operational performance, as well as its ability to sustain momentum at a higher credit quality. Over the past several years, the company has delivered steady and substantial growth across its business lines, fueled by a growing user base in Commerce and Fintech, investments in shipping and the build-out of a full digital account product stack. This has led to market share gains as the company successfully drives offline retail online and democtrazises access to financial services—particularly in
Both S&P and Fitch have pointed to the company’s expanding fintech operations, growth in its credit portfolio, and continued investment in logistics infrastructure as key drivers of long-term potential. Fitch previously cited Mercado Libre’s successful track record of combining growth with profitability, as well as its diversified business model, as reasons behind its upgrade in
With this second investment grade rating,
S&P Global Rating action commentary is available here: https://www.spglobal.com/ratings/en/regulatory/article/-/view/sourceId/101634102
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