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Bulletin: Fibria Celulose S.A. Rating Unaffected By Sale Of Assets To Suzano
Standard & Poors, Dec 2010
Abstract
SAO PAULO (Standard & Poor's) Dec. 23, 2010-- Standard & Poor's Ratings Services said today that its ratings on Brazil-based pulp and paper producer Fibria Celulose S.A. (Fibria; BB/Positive/--) are not affected by Suzano Papel e Celulose S.A.'s (BB+/Stable/--) offer to purchase its 50% stake of Cons?rcio Paulista de Papel e Celulose-Conpacel and KSR distribution operations for Brazilian reais 1.5 billion. We estimate the deal will improve Fibria's net leverage metrics in the near term. Although we don't expect credit metrics to shift significantly from the deleveraging trend we have already factored in our analysis, the transaction strengthens Fibria's liquidity and will likely help it improve its average cost of debt and overall capital structure. The deal is expected to
Article Type:NEWS,BULLETIN
Companies mentioned in this report are: Fibria Celulose S.A.,Suzano Papel e Celulose S.A.
Action: Bulletin
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