- Fitch Upgrades National Rating For Tarjeta Naranja; Expects to Rate Upcoming Bonds 'B'
Fitch Ratings has upgraded the following ratings for Tarjeta Naranja S.A. (TN):
--National long-term to 'AA-(arg)' from 'A+(arg)';
--US$150 million global short, medium and long-term notes programme to 'AA-(arg)' from 'A+(arg)';
--US$50 million global short and medium-term notes programme to 'AA-(arg)' from 'A+(arg)';
--US$66.8 million class I and II notes to 'AA-(arg)' from 'A+(arg)';
--ARS60 million class III notes to 'AA-(arg)' from 'A+(arg)'. - Fitch Affirms 'BBB' Ratings of Aracruz
Fitch Ratings has affirmed the 'BBB' foreign and local currency issuer default ratings (IDRs) of Aracruz Celulose S.A.'s (Aracruz). Fitch has also affirmed the company's 'AA+' (bra) national scale rating. - Fitch Ratings Affirms KCSM's 'B+' IDR Ratings
Fitch Ratings has affirmed the 'B+' foreign and local currency Issuer Default Ratings (IDRs) for Kansas City Southern de Mexico, S.A. de C.V. (KCSM). The Rating Outlook for these ratings is Stable. Fitch has also affirmed the 'B+' foreign currency and the 'RR4' recovery rating of KCSM's notes as follows:
--US$150 million notes due 2007;
--US$178 million notes due 2012;
--US$460 million notes due 2012. - Fitch Affirms Banco General's Ratings
Fitch Ratings has affirmed the ratings assigned to Panama's Banco General and its subsidiaries (General) as follows:
--Foreign currency long-term Issuer Default rating (IDR) at 'BBB';
--Foreign currency short-term rating at 'F3';
--Individual rating at 'C'; - Fitch Places CEMEX & Rinker on Rating Watch Negative Following Takeover Bid
Fitch Ratings has placed Cemex's 'BBB' foreign currency and local currency Issuer Default Ratings (IDR), the 'AA+(mex)' national long term, and the 'F1+(mex)' national short-term ratings of CEMEX, S.A.B. de C.V. (CEMEX), as well as the 'BBB' long term IDR of CEMEX's wholly owned subsidiary CEMEX Espana S.A. - Fitch Ratings Affirms CGE at 'A-'; Outlook Stable
Fitch Ratings has affirmed the local and foreign currency Issuer Default Ratings (IDRs) of Compania General de Electricidad S.A. (CGE) at 'A-'. The Rating Outlook is Stable. The Chilean National Scale rating has also been affirmed at 'AA(chl)' and the commercial paper rating at 'F1+(chl)'. - Fitch Assigns Codelco's Proposed Notes Due 2036 'A'
Fitch has assigned an 'A' rating to Corporacion Nacional del Cobre de Chile's (Codelco)'s proposed note offering due in 2036. In addition, Fitch has assigned a Foreign Currency and Local Currency Issuer Default Ratings (IDRs) of 'A' and 'A+', respectively, to Codelco. The National Scale rating is affirmed at 'AAA(chl)'. Proceeds are to be used for general corporate purposes. The Outlook of the ratings is Stable. - Digital River Sets Date and Time for Third Quarter 2006 Financial Results
Digital River, Inc. (NASDAQ:DRIV), a global leader in e-commerce outsourcing, announced today that it plans to release financial results for its fiscal third quarter after the close of regular market trading on Thursday, Oct. 26, 2006. The company will host a conference call at 4:45 p.m. Eastern Daylight Time (EDT) on Oct. 26, 2006, to discuss its third quarter results. The company also plans to give guidance for the fourth quarter of 2006 and full year of 2007. - Shaw Announces Guidance for Fiscal Year 2007 Earnings Per Diluted Share and Operating Cash Flow
The Shaw Group Inc. (NYSE: SGR) today announced that the Company’s guidance for estimated earnings per diluted share (EPS) is a range of $1.30 to $1.60 for its upcoming fiscal year ending August 31, 2007. - Saks Incorporated Declares Special Cash Dividend of $4 Per Share
Retailer Saks Incorporated (NYSE: SKS) (the "Company" or “Saks”) today announced that its Board of Directors has declared a special cash dividend of $4 per share. - Fitch Ratings Affirms Votorantim Participacoes at 'BBB'
Fitch Ratings has affirmed its foreign currency and local currency Issuer Default Ratings (IDRs) of Votorantim Participacoes S.A. (VPAR) and the rating on VPAR's US$300 million senior unsecured bonds due 2014 at 'BBB'. Fitch has also affirmed VPAR's national debt rating at 'AAA(bra)'. The Rating Outlook is Stable. - Fitch Revises Costa Rica's Rating Outlook to Stable
Fitch Ratings has revised the Rating Outlook on Costa Rica's foreign currency and local currency Issuer Default Ratings (IDRs) of 'BB' and 'BB+' respectively, to Stable from Negative. Fitch also affirms Costa Rica's country ceiling at 'BB+'. - International Broadcasting Corporation Adds Forex Currency Trading to Its Radio Program Lineup
International Broadcasting Corporation (OTCBB: IBCS), is pleased to announce the addition of a new and exciting Forex Trading segment to its radio show lineup starting October 16, 2006. - Fitch: High Yield CDS Trading In U.S. Names On The Upswing
-One need look no further than trading trends over the last few months in both the corporate credit default swaps (CDS) and bond markets to see that CDS is becoming increasingly popular to U.S. investors, according to a special report published by Fitch Ratings - CORRECTING and REPLACING Lava Introduces Derivatives Trading for the Buy-Side
LavaX to Support Options and Futures Trading
Lava Trading Inc., the innovative technology firm that develops high-performance trading solutions for the financial services industry, today announced it is now offering derivatives trading to its buy-side customers via the multi-broker LavaX(TM) platform. - Chardan North China Acquisition Corp. Comments on Trading Activity
Chardan North China Acquisition Corp. (OTCBB: CNCA, CNCAU, CNCAW) ("Chardan North" or "the Company"), a SPAC(R) organized for the purpose of acquiring an operating entity in the PRC, announced today that it is unaware of any internal developments that might have resulted in both the decline in its share price and significant increase in trading volume on September 18, 2006. - Merlin Securities Launches Outsourced Trading Desk: Merlin Prime Trading
Merlin Securities, a broker dealer specializing in Prime Brokerage services to hedge funds, is pleased to announce that Dean Brierley, Christopher "CJ" Martin and Gordon Lee have joined Merlin to launch Merlin Prime Trading. Merlin Prime Trading will provide outsourced trading services to hedge funds and institutions. The group establishes Merlin's ability to provide buy-side expertise and execution capabilities to professional investors. - Fitch Ratings Places Thailand on Rating Watch Negative
Fitch Ratings today placed the following ratings for the Kingdom of Thailand on Rating Watch Negative:
-- Foreign currency Issuer Default Rating (IDR) 'BBB+';
-- Local currency Issuer Default Rating (IDR) 'A'. - Western Union and Banco Nacional de Mexico Extend Money Transfer Alliance
The Western Union Company, a subsidiary of First Data Corp. (NYSE:FDC) and a worldwide leader in money transfer services, Citibank (Banamex USA) and Banco Nacional de Mexico, S.A. (Banamex) today announced that they have extended their strategic alliance to facilitate consumer money transfers to and from Mexico for another seven years. - Fitch Teleconf: Metrofinanciera RMBS Securitization Today, 11am EST
Fitch Ratings will host a teleconference at 11 AM EST this morning to discuss the Mexican RMBS transaction for Metrofinanciera. Fitch Ratings has assigned a preliminary 'BBB+' rating to the senior notes issued by METROCB 06-2U. The preliminary rating indicates that the issuer's capacity to service the obligation is equal to Mexico's sovereign local currency issuer default rating (IDR). This rating is preliminary as Fitch has not completed its analysis on the transaction. - Global Cash Access Signs Agreement to Provide Check Cashing Services to Penn National's Gaming
Global Cash Access, Inc. (GCA), a leading provider of cash access products and related services to the gaming industry, announced it has signed an agreement with Penn National Gaming, Inc., to provide its Central Credit check warranty service to Penn National's gaming establishments. - Windsor Federal Savings Celebrates Employee Milestone
Over the last 35 years, banking has undergone a revolution and Rosa Segars, customer service specialist for Windsor Federal Savings, has seen it all. - Fitch Revises Outlook on Bogota's 'BB' IDR to Positive
Fitch Ratings has revised the Rating Outlook on Bogota's 'BB' long-term foreign currency Issuer Default Rating (IDR) to Positive form Stable. The Outlook on the 'BBB-' long-term local currency IDR remains Stable. Likewise, both ratings are affirmed at their respective levels. Such actions are the result of the same Outlook revision announced by Fitch June 5, 2005 on Colombia's sovereign ratings. In this sense, Bogota's international ratings are caped by Colombia's sovereign risk.
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