Moody’s ups Lupatech CFR to Caa2

Moody's Investors Service said it upgraded Lupatech SA's corporate family rating to Caa2 from Ca and withdrew the C rating of the $275 million senior unsecured perpetual bond issued by Lupatech Finance Ltd. after the conclusion of its debt restructuring.

The outlook is stable.

Moody’s said the upgrade reflects the conclusion of Lupatech’s debt restructuring process and the expected assets divestiture in Argentina by the end of October 2014, which, together, will reduce leverage, improve the company's liquidity position and decrease interest expenses.

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