Fitch Takes Rtg Actions on National Scale Rtgs in Latin America.CHICAGO -- During the week of Nov. 29, 2004 through Dec. 3, 2004, 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. 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: Corporacion Interamericana de Entretenimiento, S.A. de C.V. (CIE (Commission Internationale de l'Eclairage, International Commission on Illumination, Vienna, Austria, www.cie.co.at) An international organization that sets standards for all aspects of lighting and illumination, including colorimetry, photometry and the measurement of visible and ) (Mexico) -- Fitch assigned a new national scale short-term rating of 'F1(mex)' to CIE's issuance of MXP MXP In currencies, this is the abbreviation for the Mexican Peso. 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. 250,000,000. Financial Institutions: Banco Cooperativo do Brasil S.A. (Bancoob) (Brazil) -- Fitch placed the short- and long-term national ratings of 'F3(bra)' and 'BBB(bra)', respectively, of Banco Cooperativo do Brasil S.A. (Bancoob) on Rating Watch Negative. The support rating of '5' was affirmed. Insurance: Compania Nacional de Seguros, S.A.(CONASE) (Panama) -- Fitch assigned a new national insurer financial strength Rating of 'AA(pan)' to CONASE. The Rating Outlook is Stable. Structured Finance: Secubono VI (Argentina) -- Fitch assigned new ratings to the two tranches of the above securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. of consumer loans. The ratings are as follows: Certificados de Participacion Clase A ARP20,468,441 'AAA(arg)'. Certificados de Participacion Clase B ARP3,326,122 'A+(arg) Columbia II (Argentina) -- Fitch assigned new ratings to the two tranches of the above securitization of consumer loans. The ratings are as follows: -- Valores de Deuda Clase A ARP32,347,710 'AA(arg)'; -- Valores de Deuda Clase B ARP4,043,464 'A-(arg)'. TV Azteca TV Azteca is the second largest Mexican television network. It was established in 1968 as the state-owned Instituto Mexicano de la Televisión ("Imevisión"), and was privatized under its current name in 1993. Its flagship program is the newscast Hechos. , S.A. de C.V. (Mexico) -- Fitch assigned a rating of 'AA(mex)'to the above future flow securitization for MXP4,500,000,000 Public finance: Estado Libre y Soberano de Mexico (Mexico) -- Fitch assigned a rating of 'A-(mex)' to the above Mexican state's issuance of MXP27,861,900. 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 with the same international scale rating. Additional information on these rating actions can be found on: Fitch Ratings 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 www.fitchdominicana.com Fitch Mexico www.fitchmexico.com Fitch Venezuela www.fitchvenezuela.com |
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