Fitch pulls Ingenio Magdalena bond rating

Fitch Ratings said it withdrew the BB- rating of Ingenio Magdalena SA and co-borrowers' planned $350 million bond transaction. Co-borrowers under the proposed notes were IMSA and its main electricity and ethanol subsidiaries Biomass Energy, SA and Mag Alcoholes, SA.

Ingenio Magdalena refinanced its debt in full through a syndicated loan in March.

Fitch withdrew the ratings because Ingenio Magdalena no longer plans to sell the notes.

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