Fitch rates Lopro bonds BB

Fitch Ratings said it assigned an expected rating of BB to The Lopro Corp.'s ¥10 billion euro-yen bonds due Sept. 22, 2014 series II.

Lopro's outlook was revised to stable from negative on Sept. 6, reflecting improvements in the company's severe asset quality problems, current and potential liabilities arising from legal action brought against it, shrinking business volumes, weak cash flow, impaired franchise and limited access to cheap funding, according to Fitch.

While the rating remains constrained by these factors, Fitch said it also takes into account Lopro's strong capitalization, large stock of cash and high reserves.

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