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Article: S&P Takes Imsa Off Watch Neg; Afms Rtgs.
- Article from:
- Business Wire
- Article date:
- February 24, 2000
CopyrightCOPYRIGHT 2000 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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Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
Feb. 24, 2000-- Standard & Poor's today affirmed its corporate credit ratings on Grupo Imsa S.A. de C.V. (Imsa), at triple-'B'-minus for local currency and double-'B' for foreign currency, as well as its rating on the company's US$150 million notes due 2004.
This action follows Imsa's announcement that it has withdrawn its takeover offer for Altos Hornos de Mexico, S.A. de C.V. (Ahmsa) (D/--/--). At the same time, Standard & Poor's is removing Imsa from CreditWatch, where it had been placed on June 29, 1999, with negative implications. The outlook is now stable.
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