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AntarChile, Copec, and Celulosa Arauco Outlooks Now Stable; Ratings Affirmed Jul 00
Standard & Poors, July 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) July 28, 2000--Standard & Poor's today revised the outlooks for the ratings of Santiago, Chile-based AntarChile S.A. (Antar), and related companies Compania de Petroleos de Chile S.A. (Copec) and Celulosa Arauco y Constitucion S.A. (Arauco) to stable from negative. At the same time, Standard & Poor's affirmed its ratings for all three companies. Additionally, Standard & Poor's assigned its triple-'B'-plus rating to Arauco's proposed US$300 million bond offering. Proceeds from this offering will be used to refinance short-term debt and for general corporate purposes. The outlook revisions for these companies reflect the reduction of near-term refinancing risk at Antar with that company's pending UF 7 million (approximately US$198 million; UF is an inflation-adjusted currency...
Companies mentioned in this report are: AntarChile S.A.,Empresas Copec S.A.,Celulosa Arauco y Constitucion S.A.
Action: Affirmed
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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