NEW YORK--(BUSINESS WIRE)--Fitch Ratings has withdrawn the expected rating of 'B+/RR4(EXP)' of Los Portales's proposed bond issuance of up to USD200 million.
The withdrawal of the rating follows unfavorable market conditions to sell the notes. As there is no set time frame for resuming the issuance process, no rating is required at this time. Fitch will provide investors with further information on the notes if and when the issuer resumes the sale process.
Fitch continues to rate Los Portales S.A. follows:
--Foreign currency Issuer Default Rating (IDR) 'B+';
--Local currency IDR 'B+'.
The Rating Outlook is Stable.
Additional information is available at 'www.fitchratings.com'.