Fitch: Masisa, bonds on positive watch

Fitch Ratings said it placed the A-(chl) national-scale rating of Masisa SA on Rating Watch positive.

In a related move, Fitch said it placed Masisa's Chilean peso-denominated bonds on Rating Watch positive as a result of the announcement the company's shareholders approved a proposed $150 million capital increase.

Proceeds from the equity offering would be used by Masisa to partially fund the construction of a new medium density fiberboard mill in Chile, the agency noted.

Fitch said the company generated $83 million of operating EBITDA during the first six months of 2005, a net debt-to-EBITDA ratio of 3.6 times.

© 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.