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AntarChile S.A. Assigned 'BBB'+ CCR; 'BBB' 5-Yr Loan Feb 00
Standard & Poors, Feb 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) Feb. 28, 2000--Standard & Poor's today assigned its triple-'B'-plus corporate credit rating to Santiago, Chile-based AntarChile S.A. and its triple-'B' rating to an approximately US$525 million five-year term loan facility. The outlook is negative. The bank loan of Antar, a holding company, is rated one notch lower than the corporate credit rating, reflecting the loan's structural subordination relative to the debt of the company's operating subsidiaries. The rating on Antar is supported by the above-average credit profile of its majority-owned subsidiary, Compania de Petroleos de Chile S.A. (COPEC)(BBB+/Negative/--), Chile's largest industrial company, and the world-class cost position of COPEC's forest products subsidiary, Celulosa Arauco y Constitucion, S.A. (ARAUCO) (BBB+/Negative/--). These factors are somewhat offset...
Companies mentioned in this report are: AntarChile S.A.,Empresas Copec S.A.,Celulosa Arauco y Constitucion S.A.
Action: New Rating
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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