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Article: Fitch Downgrades Copamex's IDR to 'B+' from 'BB-'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- March 21, 2009
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Fitch Ratings has downgraded Copamex, S.A. de C.V.'s (Copamex) senior unsecured foreign and local currency Issuer Default Ratings (IDRs) to 'B+' from 'BB-' and the senior unsecured national scale rating to 'BBB(mex)' from 'A-(mex)', including the following peso-denominated medium-term notes or Certificados Bursatiles (CB): Copamex 06, 07, 07-2 and 08.
Fitch has also downgraded the rating of Copamex's peso-denominated medium-term notes (Copamex 05-2) to 'BBB+(mex)' from 'A(mex)', which include a 15% cash collateral, and downgraded a MXP250 million short-term local CB program to 'F3(mex)' from 'F2(mex)'. The Outlook on all ratings is Stable.
The rating ...