Fitch Teleconf: Sovereign Distressed Debt Exchange & Uruguayan Debt Swap Today @ 11 a.m. EDT.Business Editors NEW YORK--(BUSINESS WIRE)--May 20, 2003 Today, May 20 at 11:00 a.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT , 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. will host a teleconference call to discuss the Uruguayan debt swap Debt swap A set of transactions in which a firm buys a country's dollar bank debt at a discount and swaps this debt with the central bank for local currency that it can use to acquire local equity. Also called a debt-equity swap. transacted last week and a criteria report Fitch released last week titled, 'Sovereign Distressed Debt distressed debt Debt with low junk status and a market price substantially below par value, often pennies on the dollar. Investors sometimes buy distressed debt on the possibility that management can renegotiate loan agreements and keep the issuer out of Exchanges.' Roger Scher, Managing Director and head of Latin American sovereign ratings, will discuss Fitch's methodology in rating sovereign distressed debt exchanges, followed by Morgan Harting, Director and senior Uruguayan sovereign analyst, who will address the specifics of the Uruguayan exchange and future prospects for Uruguay's credit ratings. Domestic participants should call +1-877-897-0442 and international participants should dial +1-706-643-7396 five minutes prior to the 11:00 a.m. EDT start time and give the title of the call, 'DDE'. To ensure that sufficient telephone lines are available for all parties, we would appreciate you using internal conferencing See teleconferencing. capabilities, if possible, to accommodate multiple listeners at your location. Interested parties who are not available for the teleconference will be able to hear a replay of the call starting on Tuesday May 20 at 3:00 p.m. EDT until Tuesday May 27 at 11:59 p.m. EDT. Domestic listeners should dial +1-800-642-1687 and international listeners should dial +1-706-645-9291 and use the access code '793549.' |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion