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April 7, 2008 |
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DESARROLLO FIRME: Fitch Cuts National Long-Term Rating to BB+ This is the latest comprehensive list of Fitch Ratings 64 Latin America national scale rating changes for the month of March, which include: upgrades, downgrades, outlook revisions, watch changes and withdrawn ratings. These rating changes were previously announced via separate press releases in Spanish or Portuguese. Fitch upgraded these National ratings: Estado de Mexico (State of Mexico): -- National long-term rating upgraded to 'BBB(mex)' from 'BBB- (mex)' Rating Watch Positive. -- Bank Loans BBVA due Dec. 1, 2023, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loan Banorte due Dec. 21, 2022, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Dexia due April 1, 2021, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Inbursa due March 1, 2021 national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Banorte (1) due June 1, 2011 national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Banamex due Dec. 1, 2023, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loan Banobras due Dec. 1, 2025 national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Banobras due Dec. 1, 2024 national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank loans Banobras 8 due Dec. 1, 2024 national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- FOREMEX due Dec. 1, 2023, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- ISSSEMYM due Dec. 1, 2023, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Santander due Dec. 1, 2023, national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. -- Bank Loans Banorte due June 1, 2011 national long-term rating upgraded to 'AA-(mex)' from 'A+(mex)'. * Rating actions took place on March 13, 2008 Municipio de Benito Juarez, Quintana Roo (Mexico): -- National long-term rating upgraded to 'BB+(mex)' Outlook Stable from 'BB(mex)' Outlook Positive. Rating actions took place on March 26, 2008. Universidad Autonoma de Nuevo Leon (Mexico): -- National long-term rating upgraded to 'A+(mex)' from 'A(mex)'. Rating actions took place on March 11, 2008. Pionero Pesos (Argentina): -- Series Pionero Pesos national long-term rating upgraded to 'AA-(arg)' from 'A+(arg)'. Rating actions took place on March 25, 2008. Fitch has downgraded these ratings: Americana de Reaseguros C.A. (Venezuela): -- National Insurer Financial Strength downgraded to 'BBB+(ven)' from 'A(ven)'. Rating Action took place on March 14, 2008. Banco Multiple Santa Cruz, S.A. (Dominican Republic): -- National long-term rating downgraded to 'BBB(dom)' from 'BBB+(dom)'. -- National short-term rating downgraded to 'F3(dom)' from 'F2(dom). * Rating Actions took place on March 28, 2008. Coppel, S.A.B. de C.V. (Mexico): -- National long-term rating downgraded to 'AA-(mex)' from 'AA(mex)'. -- ALMACO 00U due Jan. 16, 2013 national long-term rating downgraded to 'AA-(mex)Outlook Stable' from 'AA(mex)Outlook Stable'. -- ALMCACO 03 due June 19, 2008 national long-term rating downgraded to 'AA-(mex)' Outlook Stable from 'AA(mex)' Outlook Stable. -- ALMACO 05 due Dec. 10, 2010 national long-term rating downgraded to 'AA-(mex)' Outlook Stable from 'AA(mex)' Outlook Stable. -- ALMACO 07 due April 5, 2017 national long-term rating downgraded to 'AA-(mex)' Outlook Stable from 'AA(mex)' Outlook Stable. -- ALMACO 07-2 due May 8, 2014 national long-term rating downgraded to 'AA-(mex)' Outlook Stable from 'AA(mex)' Outlook Stable. -- ALMACO 06 due June 14, 2010 national long-term rating downgraded to 'AA-(mex)' Outlook Stable from 'AA(mex)' Outlook Stable. -- ALMACO 99U due March 1, 2013 national long-term rating downgraded to 'AA-(mex)' Outlook Stable from 'AA(mex)' Outlook Stable. * Rating actions took place on March 10, 2008. Desarrollo Firme de Negocios, S.A. de C.V. (Mexico): -- National long-term rating downgraded to 'BB+(mex)' Outlook Negative from 'BBB-(mex)'; -- National short-term rating downgraded to 'B(mex)' from 'F3(mex)' * Rating actions took place on March 10, 2008. GMAC Compania Financiera S.A. (Mexico): -- National long-term rating downgraded to 'AA-(arg)' Outlook Negative from 'AA(arg)'. -- National short-term rating downgraded to 'A1(arg)' Outlook Negative from 'A1+(arg)'. -- Endeudamiento de Largo Plazo national long-term rating downgraded to 'AA-(arg)' Outlook Negative from 'AA(arg)'. -- ON's Clase 2 national long-term rating downgraded to 'AA- (arg)' Outlook Negative from 'AA(arg)'. -- Programa de ON's Corto y Mediano Plazo national long-term rating downgraded to 'AA-(arg)' Outlook Negative from 'AA(arg)'. -- ON's Clase 1 national short-term rating downgraded to 'A1(arg)' Outlook Negative from 'A1+(arg). -- Endeudamiento de Corto Plazo national short-term rating downgraded to 'A1(arg)' Rating Watch Negative from 'A1+(arg). * Rating actions took place on March 28, 2008. GMAC Financiera, S.A. de C.V. (Mexico): -- Prog. Dual de C.B. due Dec 20, 2008 national short-term rating downgraded to 'F2(mex)' from 'F1(mex)' Rating Watch Negative. -- GMACFIN 06 due Sept. 17, 2009 national long-term rating downgraded to 'BBB+(mex)' Rating Watch Negative from 'A+(mex)' Outlook Negative. -- GMACFIN 07 due June 14, 2012 national long-term rating downgraded to 'BBB+(mex)' Rating Watch Negative from 'A+(mex)' Outlook Negative. * Rating Actions took place on March 3, 2008. GMAC Mexicana, S.A. de C.V. (Mexico): -- GMAC 07 due June 14, 2009 national short-term rating downgraded to 'F2(mex)' from 'F1(mex)'. -- Certificados Bursatiles due Nov. 15, 2008 national long- term rating downgraded to 'A(mex)' Rating Watch Negative from 'A+(mex)' Outlook Negative. -- Certificados Bursatiles due Nov. 15, 2008 national short- term rating downgraded to 'F2(mex)' from 'F1(mex)'. * Rating actions took place on March 3, 2008. Gmac Hipotecaria, S.A. de C.V. (Mexico): -- GMACHIP 07 due June 14, 2012 national long-term rating downgraded to 'BBB+(mex)' Rating Watch Negative from 'A+(mex)' Rating Watch Negative. -- Prog. Dual de C.B. due Dec. 20, 2008 national short-term rating downgraded to 'F2(mex)' from 'F1(mex) Rating Watch Negative'. -- GMACHIP 06 due Sept. 17, 2009 national long-term rating downgraded to 'BBB+(mex)' Rating Watch Negative from 'A+(mex)' Rating Watch Negative. * Rating Actions took place on March 3, 2008. Urbi Desarrollos Urbanos, S.A.B. de C.V. (Mexico): -- National long-term rating downgraded to 'A(mex)' Outlook Stable from 'A+(mex)'. -- National short-term rating downgraded to 'F2(mex)' from 'F1(mex)'. -- URBI 03 due June 28, 2008 national long-term rating downgraded to 'A(mex)' from 'A+(mex)'. -- URBI 05 due Jan. 19, 2010 national long-term rating downgraded to 'A(mex)' from 'A+(mex)'. -- URBI 07 due Sept. 27, 2010 national long-term rating downgraded to 'A(mex)' from 'A+(mex)'. -- Prog. de C.B. de C.P. due Dec. 20, 2011 national short-term rating downgraded to 'F2(mex)' from 'F1(mex)'. * Rating Actions took place on March 28, 2008. Fitch made these outlook revisions and rating watch changes: Municipio de Zapotlan el Grande, Jal (Mexico): -- Rating Outlook revised to 'BBB-(mex)' Outlook Positive from 'BBB-(mex)' Outlook Stable. Rating actions took place on March 13, 2008. Farmacias Ahumada S.A. (Chile): -- Rating Watch changed to 'A-(chl)' Outlook Stable from 'A- (chl)' Rating Watch Negative. -- Senior unsecured bonds due Aug. 28, 2014 Rating Watch changed to 'A-(chl)' from 'A-(chl)' Rating Watch Negative. -- Senior unsecured bonds due Aug. 28, 2025 Rating Watch changed to 'A-(chl)' from 'A-(chl)' Rating Watch Negative. * Rating actions took place March 10, 2008 Transportadora de Gas del Norte S.A. (Argentina): -- Outlook revised to 'A-(arg)' Outlook Negative from 'A- (arg)' Outlook Stable. Rating actions took place on March 28, 2008. Companhia de Concessoes Rodoviarias (Brazil): -- Rating Watch changed to 'A+(bra)' Rating Watch Negative from 'A+(bra)' Outlook Stable. -- Senior unsecured debentures due March 1, 2011 'A+(bra)' Rating Watch Negative from 'A+(bra)'. * Rating actions took place on March 17, 2008. Fitch affirmed and withdrew these ratings: Securitizadora Security GMAC-RFC S.A (Chile): -- Series 2000-1 A national long-term rating of 'BBB(chl)'; -- Series 2000-1 B national long-term rating of 'C(chl)'. * Rating actions took place on March 3, 2008. Desarrollo Firme de Negocios SA de CV. was founded in 1994 in Coahuila, Mexico. |
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