E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/22/2010 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

Fitch rates Fibria Celulose notes BB

Fitch Ratings said it assigned a BB rating to the proposed 2020 notes to be issued by Fibria Overseas Finance Ltd., a wholly owned subsidiary of Fibria Celulose SA, which has a local-currency issuer default rating of BB, foreign-currency issuer default rating of BB and national scale rating of A+(bra).

The outlook is stable.

The proceeds, expected to be about $500 million, will be used to repay existing debt.

The ratings reflect the company's excellent business position, favorable dynamics for bleached eucalyptus kraft market pulp, its ownership of more than 1 million hectares of land in Brazil and the strong financial position of its shareholders, Fitch said.

The ratings also consider the volatility of the pulp market and the company's high leverage, the agency said.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.