Fibria Celulose S.A. -- Moody's comments that Fibria's land sale is credit positive but has no immediate impact on the company's ratings

Sao Paulo, November 19, 2013 -- Moody's commented today that Fibria's announced land sale for a total transaction value of BRL 1.65 billion (about USD 708.5 million), is credit positive as it will improve the company's liquidity profile and could potentially reduce absolute debt levels. Out of the total proceeds, Fibria will receive BRL 1.4 billion by the end of 2013, and the remaining BRL 250 million will be received in three installments in a period of 21 years, subject to land price appreciation. At this point, the company's ratings remain unchanged given Moody's belief that adjusted leverage ratios will not differ materially from our previous expectations in the short to medium term, which is already incorporated in the Ba1 ratings and positive outlook. For further details please refer to the Issuer Comment dated November 19, 2013 and posted on www.moodys.com.

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