Fitch gives Javer notes BB-

Fitch Ratings said it assigned a BB-/RR3 rating to Servicios Corporativos Javer, SAPI de CV proposed add-on issuance of up to $30 million of senior unsecured notes due 2014.

These notes are an additional offering to the $180 million of 13% senior unsecured notes due 2014, the agency said, adding that proceeds from the proposed issuance will be applied to debt repayment and for general corporate purposes.

Fitch said it rates Javer as follows: local currency issuer default rating at B+; and foreign currency issuer default rating at B+.

The outlook is stable.

The ratings are based on Javer's important market position in the Mexican state of Nuevo Leon; geographic and product diversification; significant land reserve and its good financial profile, the agency added.

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