CHICAGO – Fitch Ratings has taken the following ratings actions on Sidururgica del Turbio S.A. (Sidetur) and Sidetur Finance B.V.:Sidetur S.A.
Sidetur Finance B.V.
- Foreign currency long-term Issuer Default Rating (IDR) downgraded to ‘D’ from ‘C’;
- Local currency long-term IDR downgraded to ‘D’ from ‘C’;
- National scale rating downgraded to ‘D(ven) from ‘C(ven)’;
- National short-term rating downgraded to ‘D(ven)’ from ‘C(ven)’.
- US$100 million unsecured notes due 2016 issued by Sidetur Finance B.V., a wholly owned subsidiary of Sidetur affirmed at ‘C/RR4’.
The ratings above have been withdrawn.
Fitch has withdrawn the above ratings as the issuer has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for Sidetur.