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Article: Fitch Rates Proposed Issuance By Corporacion Durango `BB-'.
- Article from:
- Business Wire
- Article date:
- July 10, 2001
CopyrightCOPYRIGHT 2001 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
CHICAGO--(BUSINESS WIRE)--July 10, 2001
Fitch has assigned a `BB-' rating to the proposed $250 million senior notes issuance of Corporacion Durango S.A. de C.V. (Durango). In conjunction with this rating action, Fitch has affirmed the `BB-' rating of Durango's $180 million senior notes due in 2006. The Rating Outlook for these ratings is Stable.
The senior notes, which will mature in 2006 and 2008, will be issued through an exchange offer with the holders of Grupo Industrial Durango S.A.'s (GID) $250 million senior notes due in 2003. GID is a subsidiary of Durango. Like the $180 million senior notes due in 2006 that were issued ...