Fitch Takes Rtg Actions on National Scale Rtgs in Latin America.Business Editors CHICAGO--(BUSINESS WIRE)--March 22, 2004 During the week of March 14, 2004 through March 19, 2004, Fitch has changed the following ratings on the national scale in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. : Corporates: Companhia de Saneamento Basico do Estado de Sao Paulo (Sabesp) (Brazil) -- 4th and 5th Debentures Issuance for BRL BRL In currencies, this is the abbreviation for the Brazilian Real. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 300 million and BRL400 million respectively, both of which are rated 'A(bra)', have been placed in Rating Watch Negative. Financial Institutions: Banco de San Juan S.A. (Argentina) -- Programa de ON's por US$50 million a 5 anos, Emisiones Senor, new rating 'BBB+(arg)'; -- Emisiones Subordinadas dentro del mismo Programa, new rating 'BBB(arg)'; -- Short-term new rating 'A3(arg)'. Metrofinanciera, S.A. de C.V. (SOFOL SOFOL Sociedad Financiera de Objeto Limitado (México financial society) )(Mexico) -- The long-term ratings has been upgraded to 'BBB(mex)'from 'BBB-(mex)'; -- 'Administradora de Activos Financieros del Fovi' has been upgraded to 'AAFC2(mex)' from 'AAFC2-(mex)'. Structured Finance New Ratings: Altere Securitizadora S.A.-Real Estate Receivables Certificates (Brazil) -- BRL6,371,667 'AA-(bra)'. Structured Finance Downgrades: Titan Telecom Personal 2000-1 - Repacked (Brazil) -- US$27,120,000 to 'D(arg)' from 'C(arg)'. National ratings are an assessment of credit quality relative to the rating of the 'best' credit risk in a country. This 'best' risk will normally, although not always, be assigned to all financial commitments issued or guaranteed by the sovereign state SOVEREIGN STATE. One which governs itself independently of any foreign power. . Therefore, a given national scale rating implies a different level of risk compared to the same international scale rating. Additional information on these rating actions can be found on: Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. 'www.fitchratings.com' Fitch Argentina 'www.fitchratings.com.ar' Fitch Bolivia 'www.fitchratings.com.bo' Fitch Brazil 'www.fitchratings.com.br' Fitch Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. 'www.fitchca.com' Fitch Chile 'www.fitchratings.cl' Fitch Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. 'www.fitchdominicana.com' Fitch Mexico 'www.fitchmexico.com' Fitch Venezuela 'www.fitchvenezuela.com' |
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