Cement News tagged under: Cimento Tupi
Fitch downgrades Cimento Tupi's Ratings13 May 2015, Published under Cement NewsFitch has downgraded its rating for Cimento Tupi to ‘C’ following the Brazilian cement company’s announcement that it will miss its US$9m interest payment on its US$185m of senior unsecured notes due in 2018. The downgrade reflects Tupi's inability to pay its coupon payment which will enter a 30 day cure period on its outstanding notes, Fitch said in a statement. Tupi hired investment bank Rothschild as its investment advisor as the company seeks relief from its high level of interest expe... |
Fitch Ratings affirms Cimento Tupi ratings, Brazil10 April 2012, Published under Cement NewsFitch Ratings has affirmed the following ratings of Brazilian cement producer, Cimento Tupi SA's (Tupi): • Foreign currency Issuer Default Rating (IDR) at 'B' • Local currency IDR at 'B' • Senior Unsecured Notes Due 2018 at 'B/RR4'; • Long-Term National Rating 'BBB-(bra)'. Fitch said Tupi's 'B' ratings reflect its small business position, execution risks related to the change in its business model, and the volatility of its cash flow generation due to the cyclicality ... |
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