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Article: Fitch Rates Cosan S.A. Industria e Comercio & Cosan Combustiveis e Lubrificantes; Outlook Stable.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- August 5, 2009
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Fitch Ratings has assigned 'BB-' local and foreign currency Issuer Default Ratings (IDR) and a 'A-(bra)' National Scale Rating to Cosan S.A. Industria e Comercio (Cosan) and its subsidiary Cosan Combustiveis e Lubrificantes Ltda (CCL). Fitch has also assigned a 'BB-' rating to CCL's proposed US$300 million senior unsecured notes due 2014 issued through its wholly owned subsidiary, CCL Finance Ltd. The notes will be unconditionally and irrevocably guaranteed by CCL. The Rating Outlook for Cosan and CCL is Stable.
Cosan's credit ratings reflect its strong market position as Latin America's largest agroenergy company. This position has enabled Cosan to access both ...