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Article: Fitch Downgrades Arantes Alimentos' IDR to 'CC'.
- Article from:
- Business Wire
- Article date:
- January 7, 2009
CopyrightCOPYRIGHT 2009 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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CHICAGO -- Fitch Ratings has downgraded the ratings of Arantes Alimentos Ltda (Arantes) and Arantes International (a special-purpose vehicle wholly-owned and unconditionally guaranteed by Arantes) as follows:
Arantes Alimentos Ltda
--Local currency Issuer Default Rating (IDR) to 'CC' from 'B";
--Foreign currency IDR to 'CC' from 'B';
--National scale rating to 'CC(bra)' from 'BBB(bra)'.
Arantes International Ltd.
--USD150 million senior unsecured notes to 'CC/RR4' from 'B/RR4'.