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Prospect News home > News index > List of issuers I > Headlines for InterCement Participacoes SA > News item
Published on 6/25/2020 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Fitch trims, rates InterCement notes CCC+

Fitch Ratings said it downgraded InterCement Participacoes SA's long-term local- and foreign-currency issuer default ratings to C from CCC-. Fitch also lowered InterCement Financial Operations BV's 2024 notes to C/RR4 from CCC-/RR4.

Concurrently, Fitch assigned an expected long-term rating of CCC+/RR4 to InterCement Financial’s proposed senior secured 2027 notes.

“The downgrades follow InterCement's announcement of a proposed offer to exchange its unsecured notes due in 2024 for new secured notes due in 2027, which Fitch considers to be a distressed debt exchange (DDE) as per its DDE criteria,” the agency said in a press release.


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