Fitch Releases Credit Analysis of Aracruz.CHICAGO -- Fitch Ratings has released a credit analysis of Aracruz Celulose S.A.'s (Aracruz). This report covers the rating rationale for Fitch's 'BBB' foreign and local currency issuer default ratings (IDRs) of Aracruz. Other sections of the report include a review of the company's financial performance in 2006 and a discussion of the credit outlook for the company in 2007. Aracruz is the largest producer of bleached eucalyptus kraft market pulp in the world, with a nominal production capacity of 3 million tons. The company meets its fiber needs with eucalyptus plantations that it owns in the states of Espirito Santo, Bahia and Rio Grande do Sul Rio Grande do Sul (rē`  grän`dĭ th s . Aracruz's voting shares are controlled by the Lorentzen Group (28%), VCP VCP Verband Christlicher Pfadfinderinnen und Pfadfinder (German Scouts)VCP VMware Certified Professional VCP Voluntary Cleanup Program VCP Virtual Control Panel VCP Video Cassette Player VCP Vietnamese Communist Party (28%), the Safra Group (28%) and BNDESPAR BNDESPAR Bndes Participações (Brazil) (12.5%) any. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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