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Article: Fitch Upgrades National Scale Rating of Masisa to 'A(chl)'.
- Article from:
- Business Wire
- Article date:
- January 11, 2006
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CHICAGO -- Fitch Ratings has upgraded to 'A(chl)' from 'A-(chl)' the national scale rating of Masisa S.A. (Masisa). In a related move, Fitch has upgraded Masisa's Chilean peso denominated bonds - No. 355, No. 356, and No. 336 - to 'A(chl)'. These ratings had been placed on Rating Watch Positive by Fitch on Oct. 6, 2005 after the announcement by the company that it intended to issue equity. The upgrades follow the successful placement of $120 million of new equity in the market by Masisa during December 2005 and January 2006. The Rating Outlook is Stable for all of these ratings. Fitch has also assigned a preliminary rating of 'A (chl)' to Masisa's proposed UF5.5 million ...