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Article: Fitch Ratings Places Amanco Holding on Watch Negative.
- Article from:
- Business Wire
- Article date:
- March 2, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Fitch has placed Amanco Holding Inc. y Subsidiarias (Amanco)'s 'BBB-' foreign currency and local currency Issuer Default Ratings (IDRs) as well as Amanco's 'AA+(pan)' national long term rating on Rating Watch Negative.
On Feb. 22, 2007 Mexichem, S.A. de C.V. (Mexichem), a Mexican chemical and petrochemical company, announced that it signed a contract with Amanco's controlling shareholder Grupo Nueva to acquire 100% of Amanco's shares. The rating action reflects uncertainty regarding possible direct and/or indirect leveraging affects of the acquisition on Amanco. The ultimate rating action will depend largely on the financial and business strategies of ...