|
|
Article: Fitch Rates CSN's Proposed Sr. Unsecured Notes 'BBB-'
- Article from:
- Wireless News
- Article date:
- September 8, 2009
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
Wireless News
09-08-2009
Fitch Rates CSN's Proposed Sr. Unsecured Notes 'BBB-'
Type: News
Fitch Ratings has assigned a 'BBB-' long-term foreign currency rating to Companhia Siderurgica Nacional's (CSN) proposed 10-year note issuance through its subsidiary CSN Islands XI Corp.
In a release dated September 2, Fitch stated:
Proceeds of this issuance, which could be up to US$750 million, will be used to refinance short-term debt and for general corporate purposes.
Fitch affirmed CSN's local currency and long-term Issuer Default Ratings (IDRs) of 'BBB-' as well as the company's national scale rating of 'AA(bra)' on May 21. The Rating Outlook for all the ratings is Stable.
Solid Liquidity ...