Fitch: Inversiones CMPC notes BBB+

Fitch Ratings said it assigned an expected BBB+ rating to the proposed senior unsecured notes to be issued by Inversiones CMPC SA, guaranteed by Empresas CMPC SA.

The proceeds from these unsecured notes, which are expected to total $500 million with a tenor of 10 years, will be used to finance or refinance investments in eligible green projects and extend the company's debt maturity profile, Fitch said.

The company has a long-term foreign-currency and local-currency issuer default ratings of BBB+ with negative outlook.

The ratings reflect the company's strong business positions as the third largest market pulp producer globally and a leading tissue producer in Latin America, Fitch said.

The ratings also are supported by Inversiones CMPC's significant forestry investments, the agency said, and strong liquidity and capital structure.

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