Fitch upgrades Votorantim Participacoes

Fitch Ratings said it upgraded Votorantim Participacoes SA's foreign- and local-currency issuer default ratings to BBB from BBB- and national scale rating to AAA(bra) from AA+(bra).

The outlook was revised to stable from positive.

The upgrades are based upon the deleveraging efforts by the company's industrial subsidiaries and the strong capital structure of these companies, Fitch said.

© 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.