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Camargo Corr?a S.A., InterCement Brasil S.A. 'BB' Ratings Affirmed; Outlooks Remain Negative Dec 11
Standard & Poors, Dec 2011
Abstract
Camargo's liquidity has improved after selling its 6% stake in Usiminas to the Techint Group, but credit metrics are still tight on weak performance of its heavy construction business. We are affirming our 'BB' ratings, including the corporate credit ratings, on CCSA and InterCement, while maintaining a negative outlook on each. The ratings will be downgraded if the company fails to improve operating performance and its leverage ratios don't decrease. SAO PAULO (Standard & Poor's) Dec. 29, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BB' long-term corporate credit rating on Camargo Corr-a S.A. (CCSA) and its cement subsidiary, InterCement Brasil S.A. The outlooks remained negative. The affirmation followed Camargo's improvement in liquidity, especially considering its recent...
Companies mentioned in this report are: Camargo Correa S.A.,Cimpor Cimentos de Portugal, S.G.P.S. S.A.,CPFL Energia S.A.,InterCement Brasil S.A.,Caue Finance Ltd.,CCSA Finance Ltd.
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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