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Fitch Places Ratings of Empresas CMPC S.A. on Rating Watch Negative.

Publication: Business Wire
Publication Date: 23-SEP-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
CHICAGO -- Fitch Ratings has placed the following ratings of Empresas CMPC S.A. (CMPC) on Rating Watch Negative:

--Foreign currency Issuer Default Rating (IDR) 'A-';

--Local currency IDR 'A-';

--Senior unsecured debt bond due 2013 'A-';

--National scale rating 'AA+(chl)';

--Senior unsecured local bond lines as well as all debt issued under these programs 'AA+(chl)'.

The rating action follow the announcement by the CMPC that it had signed a memorandum of understanding with Aracruz Celulose S.A. (Aracruz) that could result in the company purchasing several assets owned by Aracruz in Brazil for USD1.4...

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