Article: S&P Takes Imsa Off Watch Neg; Afms Rtgs.

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This action follows Imsa's announcement that it has withdrawn its takeover offer for Altos Hornos de Mexico, S.A. de C.V. (Ahmsa) (D/--/--).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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