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Bulletin: Lupatech S.A. Ratings Unaffected By Announcement Of A Capital Strengthening Strategy Jan 12
Standard & Poors, Jan 2012
Abstract
SAO PAULO (Standard & Poor's) Jan. 4, 2012--Standard & Poor's Ratings Services said today that the recent announcement by Brazil-based oil and gas equipment and services supplier Lupatech S.A. (global scale: B-/Negative/--; national scale: brBB/Negative/--) of a capital strengthening strategy does not immediately affect its ratings on the company and its 'CCC' issue rating on the guaranteed perpetual bonds issued by Lupatech Finance Ltd. Under the proposal, existing minority shareholders BNDESPar-BNDES Participa--es S.A. (national scale: brAAA/Stable/--) and Funda--o Petros (not rated) will jointly inject Brazilian reais (R$) 300 million of cash equity into Lupatech. New investor GP Investments Ltd. (BB-/Stable/--) will also contribute R$50 million as cash equity and its participation in the oilfield service operations of San Antonio Brazil...
Companies mentioned in this report are: Lupatech S.A.,GP Investments Ltd.,Lupatech Finance Ltd.,BNDESPar-BNDES Participacoes S.A.
Action: Bulletin
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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