Fitch affirms Empresas

Fitch Ratings said it affirmed the BBB+ foreign- and local-currency issuer default ratings of Empresas CMPC, along with its AA (cl) long-term and F1+(cl) short-term national scale ratings and primera clase nivel 1(cl) equity rating.

Fitch also said it affirmed the BBB+ foreign-currency issuer default rating of Inversiones CMPC and its AA(cl) long-term and F1+(cl) short-term national scale ratings, senior unsecured long-term debt payable in Chilean pesos at AA (cl) and commercial paper denominated in Chilean pesos at AA(cl) and F1+(cl).

The outlook remains stable.

The ratings reflect the company's strong business position and solid financial profile, Fitch said.

The ratings also take into consideration the company's consistently conservative financial philosophy, large forestry holding and improving position in its markets, the agency said.

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