In today’s briefing:
- MELI 4Q24: Strong Results, While Leverage Remains Stable Amid Higher Debt
MELI 4Q24: Strong Results, While Leverage Remains Stable Amid Higher Debt
- Operating metrics exceeded expectations, while credit-fueled growth increased debt. Leverage remained unchanged.
- We remain optimistic about MELI’s financial and business risk profile.
- If the company achieves IG status, we believe its fundamental strengths are already reflected in current spreads. However, we estimate ~10 basis points of incremental upside from a technical bid.
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