S&P affirms Alto Parana

Standard & Poor's said it affirmed the BB- corporate credit rating on Alto Parana SA.

The outlook remains negative.

The rating continues to reflect a belief that the company's 99.97% controlling shareholder Celulosa Arauco y Constitucion SA has sufficient economic incentives to support the firm, S&P said.

This is mainly because of the company's status as a significant foreign subsidiary, the agency said.

The company's competitive cost position in its products partially mitigates these factors, S&P 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.