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Bulletin: Celulosa Arauco Y Constitucion S.A. (ARAUCO) Ratings Unaffected By Plant Shutdown May 07
Standard & Poors, May 2007
Abstract
BUENOS AIRES (Standard & Poor's) May 8, 2007--Standard & Poor's Ratings Services said today that its ratings on Celulosa Arauco y Constituci-n S.A. (ARAUCO; BBB+/Stable/--) will not be affected by the company's decision to temporarily close one of its pulp mills, a sawmill, and panels facility in the VIII Region in Chile. ARAUCO announced the shutdown of those facilities Friday, May 4, 2007, after a labor strike and demonstration of forest contractors' employees. Because these issues should be settled in a short period of time, ARAUCO's credit quality will not be significantly affected by the lower revenues, resulting from the shutdown of the mills. We will closely monitor potential higher labor costs and their impact on ARAUCO's profitability and cash...
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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