Fitch gives Iansa notes BB

Fitch Ratings said it assigned a rating of BB to Empresas Iansa, SA's (Iansa) proposed offering of $100 million of senior notes due 2012.

Fitch said it also assigned international senior unsecured local and foreign currency debt ratings of BB to Iansa. The outlook is stable.

Proceeds from the offering will be used to repay existing debt, the agency said.

Iansa's ratings are supported by its strong business position as sole producer of sugar in Chile, low cost structure and the existence of price protection mechanisms in the domestic market, Fitch noted.

The ratings also incorporate the exposure of the company's agricultural businesses to weather conditions, to supply and demand imbalances and to competition from sugar substitutes, Fitch said.

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