Cosan Luxembourg SA -- Moody's comments that Cosan's proposed incorporation of ALL shares is credit positive

Sao Paulo, February 25, 2014 -- Moody's commented today that Cosan S.A. Indústria e Comércio (Ba2 stable) proposed deal to incorporate all of the shares of ALL - América Latina Logística S.A. (Ba3 stable) is positive for both Cosan and ALL because, if approved, it would bring to an end the legal dispute between both companies concerning a 2009 agreement to increase railway line productivity for the transportation of sugar to the Port of Santos (please refer to issuer comment "Cosan Logistics' Business Combination Talks with Railroad Operator ALL Are Credit Positive", published on January 20, 2014). Moreover, it would represent a strategic movement for Cosan to increase its participation in the infrastructure segment in Brazil without jeopardizing credit metrics. For further details please refer to the Issuer Comment dated February 25, 2014 and posted on www.moodys.com.

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