Fitch cuts Argentina’s IMPSA

Fitch cuts Argentina’s IMPSA

Corporate & Sovereign Strategy

Fitch has downgraded Industrias Metalurgicas Pescarmona (IMPSA) to CCC from B+ to reflect the company’s stretched liquidity. The same downgrade applies to IMPSA’s subsidiary WPE International Cooperatief U.A. (WPEI). The rating actions affect IMPSA's $225m 2014 senior unsecured international bonds and WPEI's $390m 2020 senior unsecured notes. Fitch has also assigned a new rating of CCC to Venti, the group's ultimate holding company that acts as guarantor of the IMPSA and WPEI notes. “The company

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial