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Article: Fitch Rates Arcor's $100MM Proposed Debt Issuance 'BB-'.
- Article from:
- Business Wire
- Article date:
- June 5, 2007
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BUENOS AIRES, Argentina -- Fitch Ratings has assigned the following ratings to Arcor S.A. (Arcor), an Argentine based producer of candy, chocolates and biscuits:
--Foreign currency Issuer Default Rating (IDR) 'B+';
--Local currency IDR 'BB';
--$100 million proposed debt issuance due 2017 'BB-/RR3';
--National scale rating 'AA+ (arg)'.
The Rating Outlook is Stable.
Arcor has production facilities in Argentina, Chile, Brazil, Mexico and Peru. It also exports products to over 120 countries. About 60% of Arcor's sales are generated by products holding either a leading or second market position. The strong brand equity of ...