Fitch: Arcor notes reopening BB-/RR3

Fitch Ratings said it rates the $150 million reopening of Arcor SAIC's $350 million senior unsecured notes due 2023 BB-/RR3.

The $150 million additional notes will be issued under the $800 million global short- and medium-term note program dated Oct. 30, 2015 governing the $350 million senior notes due 2023.

Proceeds will be used to refinance existing debt and should improve Arcor's debt maturity profile and lower its overall cost of debt.

Fitch said the ratings reflect the company's strong business position as a leading Latin American producer of confectionary and cookie products. The company's vertical integration ensures the quality of supplies as well as the availability of main inputs.

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