Fitch affirms Impsa

Fitch Ratings said it affirmed the following ratings of Industrias Metalurgicas Pescarmona SA: foreign currency issuer default rating at B, local currency issuer default rating at B, $225 million notes due in 2014 at B/RR4, $65 million notes due in 2009 at B/RR4 and national Scale ratings at A-(arg).

The agency said that the recovery rating of RR4 assigned to the notes indicates average recovery prospects in the event of default.

The outlook is stable.

According to Fitch, Impsa's ratings are supported by strong global demand for hydroelectric and wind technology and equipment, which has boosted Impsa's backlog to $1.8 billion as of April from $481 million as of April 2006.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.