Article: Standard & Poor's Takes Imsa Off Watch Negative; Affirms Ratings.

NEW YORK, Feb. 25 /PRNewswire/ --

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 This action follows Imsa's announcement that it has withdrawn its takeover offer for Altos Hornos de Mexico, S.A. de C.V. (Ahmsa) (D/--/--).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

The ratings reflect Grupo Imsa S.A. de C.V.'s geographic and product ...

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