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Fitch Downgrades Empresas CMPC S.A.'s IDRs to 'BBB+'.

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

Article Excerpt
CHICAGO -- Fitch Ratings has downgraded the following ratings of Empresas CMPC S.A. (CMPC) and removed them from Rating Watch Negative:

--Foreign currency Issuer Default Rating (IDR) to 'BBB+' from 'A-';

--Local currency IDR to 'BBB+' from 'A-';

--Senior unsecured debt bond due 2013 to 'BBB+' from 'A-';

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

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

Fitch has also affirmed the company's national scale short-term rating at 'F1+ (chl). The Rating Outlook for CMPC is Stable.

In addition to the aforementioned rating actions, Fitch has assigned a 'BBB+'...

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