Article: Fitch Assigns National Scale Ratings to ALL's Subsidiaries Issuances.

RIO DE JANEIRO, Brazil -- Fitch Ratings assigned today the National Scale Rating to the new debentures issuances of ALL - America Latina Logistica S.A. (ALL)'s subsidiaries - ALL - America Latina Logistica Malha Paulista S.A. (ALL Malha Paulista), ALL - America Latina Logistica Malha Norte S.A. (ALL Malha Norte) and ALL - America Latina Logistica Malha Oeste S.A. (ALL Malha Oeste), which total BRL500 million and are secured by ALL. The resources of these issuances will be used to fund group's investments.

Fitch assigned the following ratings:

ALL Malha Paulista:

--Second debentures issuance, of BRL200 million, due to 2017 rated 'BBB+(bra)';

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