S&P: Empresas CMPC unaffected

Standard & Poor's said that its ratings on Empresas CMPC SA (A-/stable/--) would not be affected by the recent announcement of the acquisition of assets in Chile for $110 million (of Forestal Copihue SA and Bosques de Chile SA).

The acquisition is small for CMPC's operations and will imply the use of only part of its cash reserves, which as of June 2005 amounted to about $400 million, and a negligible increase in debt, thus not affecting credit metrics and ratings, the agency said.

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