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Article: Fitch Places Ratings of Empresas CMPC S.A. on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- September 23, 2009
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CHICAGO -- Fitch Ratings has placed the following ratings of Empresas CMPC S.A. (CMPC) on Rating Watch Negative:
--Foreign currency Issuer Default Rating (IDR) 'A-';
--Local currency IDR 'A-';
--Senior unsecured debt bond due 2013 'A-';
--National scale rating 'AA+(chl)';
--Senior unsecured local bond lines as well as all debt issued under these programs 'AA+(chl)'.
The rating action follow the announcement by the CMPC that it had signed a memorandum of understanding with Aracruz Celulose S.A. (Aracruz) that could result in the company purchasing several assets owned by Aracruz in Brazil for USD1.4 billion. These ...