| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Aracruz Celulose SA > News item |
S&P raises 25 non-sovereigns
Standard & Poor's upgraded 25 non-sovereign credit ratings, 15 in Latin America and 10 in the Asia/Pacific region, after a review of the transfer and convertibility risk in these markets.
The agency said that sovereigns in political and economic stress are less likely to restrict non-sovereign entities' access to foreign exchange needed for debt service.
As a result in raised the ratings associated with the risk of foreign exchange controls in 27 countries.
In Brazil, S&P upgraded Alcoa Aluminio SA to BB+ on CreditWatch positive from BB- with a stable outlook, Aracruz Celulose SA to BBB- from BB-, Braskem SA to BB from BB-, Camargo Correa Cimentos SA to BB from BB-, Companhia Siderurgica Nacional to BB from BB-, Gerdau SA to BB+ from BB-, Klabin SA to BB from BB-, Sadia SA to BB from BB-, Tele Norte Leste Participacoes SA to BB from BB-, Usina Siderugicas de Minas Gerais (Usiminas) to BB from BB- and Votorantim Participacoes SA to BBB- from BB-.
In Mexico, S&P upgraded America Movil SA de CV to BBB+ from BBB, Grupo Bimbo, SA de CV to BBB+ from BBB, Kimberly-Clark de Mexico SA de CV to A- from BBB+ and Telefonos de Mexico SA de CV to BBB+ from BBB.
In India, S&P raised Infosys Technologies Ltd. to BBB from BBB- and Tata Steel Ltd. to BBB from BB+.
For Indonesia, S&P upgraded Sampoerna International Finance Co. BV to BB+ from BB-, PT Bank Mandiri (Persero) to BB- from B+ and PT Bank Danamon Indonesia Tbk to BB- from B+.
In the Philippines, S&P upped Globe Telecom Inc. to BB+ from BB-, Philippine Long Distance Telephone Co. to BB+ from BB-, Universal Robina Corp. to BB from BB- and San Miguel Corp. to BB from BB-.
Thailand's Advanced Info Service Public Co. Ltd. was upgraded to A- from BBB+.
© 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.