 Moodys Investors Service, Moodys has today affirmed Adecoagro S.A. Adecoagros Ba2 Corporate Family Rating and the Ba2 rating on its senior unsecured rating. The negative outlook reflects our expectation that Adecoagro gross leverage will remain high for the rating level and risk profile, at around 3.5x, due to lower than estimated EBITDA for 2020 following a sharp decline in international oil prices. 