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Fitch affirms Mastellone Hermanos
Fitch Ratings said it affirmed Mastellone Hermanos SA's long-term local and foreign currency issuer default ratings and its senior notes at B/RR4.
The outlook is negative.
“Mastellone's B ratings reflect the company's weak Argentine operating environment, as well as its exposure to raw milk production, and the currency mismatch of its U.S. dollar denominated debt versus its Argentine peso operating cash flow,” the agency said in a news release.
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