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Moody’s cuts Inversiones Alsacia
Moody's Investors Service said it downgraded the senior secured rating of Inversiones Alsacia SA to Caa3 from Caa2.
The rating was also placed under review for downgrade.
Moody’s said the downgrade reflects Alsacia's default on the required interest and principal payment due on Aug. 18 and the agency’s understanding that the issuer plans to commence a restructuring process on the outstanding senior secured notes.
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