Article: Fitch Takes Rtg Actions on National Scale Rtgs in Latin America.

CHICAGO -- During the week of September 27, 2004 through October 1, 2004, Fitch changed the following ratings on the national scale in Latin America:

Corporates:

Cemex, S.A. De C.V. (Mexico)

--Fitch placed the 'AA+(mex)' rating for Cemex on Rating Watch Negative, down from Stable.

Hidroelectrica Boliviana S.A. (Bolivia)

--Fitch downgraded the rating for Hidroelectrica Boliviana to 'D(bol)' from 'CC(bol)'.

Emcogas S.A. (Bolivia)

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