| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Votorantim Participações SA > News item |
Fitch lowers Votorantim Participacoes
Fitch Ratings said it downgraded Votorantim Participacoes SA's ratings, including the foreign currency and local currency issuer default rating to BBB- from BBB; the senior unsecured guaranteed notes due 2014 and 2020 to BBB- from BBB; and the national scale rating to AA+(bra) from AAA(bra).
The outlook is stable.
Fitch said the downgrades are primarily due to higher debt levels and lower cash flow at Votorantim during the past 18 months, which resulted in the company's net debt/EBITDA level climbing to 4.7 times for the latest 12 months ended June 30 from 1.1x at the end of 2007.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.