|
|
Article: Fitch Places Mabe's 'BBB-' Ratings on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- May 29, 2008
CopyrightCOPYRIGHT 2008 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)
|
MONTERREY, Mexico & NEW YORK -- Fitch Ratings has placed Mexican home appliance manufacturer Controladora Mabe, S.A. de C.V.'s (Mabe) foreign and local currency Issuer Default Ratings of 'BBB-' on Rating Watch Negative as well as Mabe's US$200 million senior notes due 2015.
This action reflects the heightened event risks and associated uncertainty following the recent announcement from General Electric Co. (GE) that it was reviewing strategic options for its appliances business, which include a strategic partnership or joint venture, spin off or sale of the business. Mabe's ratings incorporate, among others, the long business relationship with GE since 1987, ...