Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Masisa SA > News item |
Fitch cuts Masisa
Fitch Ratings said it downgraded Masisa SA's foreign- and local-currency issuer default ratings to BB from BB+, and affirmed its long-term national scale ratings at A-(cl), national scale rating of bond line No. 355, No. 356, No. 439, No. 440 and No. 560 at A-(cl), short-term rating at F1(cl) and equity rating at level 2.
The outlook is stable.
The ratings reflect Masisa's continued weak credit ratios for the category as well as an increasingly negative operating environment in Venezuela and the risks of operating in Argentina, Fitch said.
The company's risk profile still remains consistent with the national scale rating of A-(cl), which provides a moderately wider range of credit risk on the national scale, the agency said.
The ratings also incorporate the expectation that Masisa will be able to offset some of the negative impact of the Venezuelan devaluation on its consolidated EBITDA in 2010 due to a sound recovery of Latin American markets, especially Brazil and Chile, Fitch added.
© 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.