Moody's upgrades Caue Finance

Moody's Investors Service said it upgraded the foreign currency rating of Caue Finance Ltd.'s $150 million senior unsecured guaranteed notes due 2015 to Ba3 from B1 and changed the outlook to stable from positive.

The rating action was prompted by Moody's upgrade of Brazil's long-term foreign currency ceiling for bonds and notes to Ba3 from B1, while maintaining the positive outlook.

Caue's notes are fully and unconditionally guaranteed by Camargo Correa Cimentos SA, for which the Ba3 global local currency corporate family rating and stable outlook were not affected by this rating action.

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