Fitch affirms Arcor

Fitch Ratings said it affirmed Arcor SAIC’s long-term, local-currency issuer default ratings at BB and the senior unsecured notes at BB-/RR3.

In conjunction with these actions, the agency affirmed Arcor's foreign-currency issuer default ratings at B+, one notch higher than the B country ceiling of Argentina.

Fitch said the affirmation reflects Arcor's resilient operating performance, despite high inflation and challenging economic conditions. It also reflects the agency’s expectation that the company will reduce leverage quickly and maintain a conservative capital structure.

© 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.