Celulosa Arauco y Constitucion S.A. (ARAUCO) Senior Unsecured Bonds Assigned 'BBB'; Corp. Credit Rating Affirmed Sep 10
Standard & Poors, September 2010
Abstract
We are assigning our 'BBB' rating to Celulosa Arauco y Constitucion S.A.'s (ARAUCO) planned issuance of up to $400 million in senior unsecured 144-A 10-year bullet bonds. We are also affirming the 'BBB' corporate credit rating on the company. We expect ARAUCO to use the proceeds primarily for debt-refinancing purposes. The outlook is stable. BUENOS AIRES (Standard & Poor's) Sept. 13, 2010-Standard & Poor's Ratings Services today assigned its 'BBB' rating to Chile-based Celulosa Arauco y Constitucion S.A.'s (ARAUCO) forthcoming up to $400 million senior unsecured 144-A 10-year bullet bonds. The company will primarily use the note proceeds to refinance a portion of its short-term debt and other general corporate purposes. At the same time, we affirmed the 'BBB' corporate...
Companies mentioned in this report are: Celulosa Arauco y Constitucion S.A.
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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.
Celulosa Arauco y Constitucion S.A.
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