Research Update: Celulosa Arauco y Constitución S.A. Downgraded To 'BBB-' From 'BBB' On High Debt, Outlook Stable Mar 13
- Language: English
- Published: March 2013
NEW YORK (Standard & Poor's CreditWire) Feb. 23, 2000--Standard & Poor's today affirmed its ratings on Compa--a de Petroleos de Chile S.A.(COPEC, a majority-owned subsidiary of AntarChile)and its forest products subsidiary Celulosa Arauco y Constitucion, S.A. (ARAUCO).(See list below.) The outlook on both ratings is negative. The ratings on Compania de Petroleos de Chile S.A. (COPEC) and Arauco were removed from CreditWatch with negative implications, where they had been placed on Dec. 22, 1999, following the announcement that the Angelini Group, Antar's 68.1% shareholder, would raise its ownership interest in COPEC to 60.1% from 30.05% in a US$1.233 billion transaction that was partially debt financed. This transaction was carried out through Antar. Following the transaction, Antar has a 30.05% direct...
Companies mentioned in this report are: Empresas Copec S.A.,Celulosa Arauco y Constitucion S.A.
Action: Various Rating Actions
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Research type: News
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Empresas Copec S.A.,Celulosa Arauco y Constitucion S.A.