Industry | 2014.07.25
Fitch Downgrades IMPSA and WPEI's IDRs to 'CCC'; Ratings Placed on Negative Watch
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded the foreign and local currency Issuer Default Ratings (IDRs) of Industrias Metalurgicas Pescarmona S.A.I.C. y F. (IMPSA) and WPE International Cooperatief U.A. (WPEI) to \'CCC\' from \'B+\'. These rating actions affect IMPSA\'s USD225 million senior unsecured international bonds due October 2014 and WPEI\'s USD390 million senior unsecured international bonds due September 2020. The bonds\' ratings are being downgraded to \'CCC/RR4\' from \'B+/RR4\'.
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