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BULLETIN: Celulosa Arauco y Constitucion S.A. Ratings Not Affected By Production Cap May 05
Standard & Poors, May 2005
Abstract
BUENOS AIRES (Standard & Poor's) May 26, 2005--Standard & Poor's Ratings Services said today that Celulosa Arauco y Constituci-n S.A.'s (Arauco; BBB+/Stable/--) ratings are not affected by the decision of the Chilean Regional Environmental Authority from the 10th region 'COREMA' to put a temporary 440,000-ton cap on production at the Valdivia pulp mill. COREMA will announce the requirements to lift the cap in its official resolution expected for next week. The reduction in the mill's authorized output from the current production levels of 550,000 tons represents approximately US$30 million less EBITDA generation per year at current pulp prices, or less than 5% of expected EBITDA for 2005. Nevertheless, although the production cap will have only a marginal impact on credit...
Companies mentioned in this report are: Celulosa Arauco y Constitucion 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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