Moody's rates Arcor notes B1/Aa2.ar

Moody's Latin America said it assigned a B1 foreign currency rating and an Aa2.ar Argentina national scale rating to Arcor SAIC's proposed up to ARS 300 million senior notes to be issued in the local market.

At the same time, Moody's affirmed the B1 global local currency corporate family rating to Arcor. Finally, Moody's affirmed the B1 foreign currency rating and the Aa2.ar Argentina national scale rating on Arcor's $200 million senior unsecured notes due in 2017.

The outlook is negative.

Moody's said Arcor's ratings are supported by its leading market position as one of the largest global producers and exporters of candy and leading manufacturer of cookies, processed food and corrugated cardboard.

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