Fitch Publishes Third-Quarter 2014 Recovery Analyses for Latin America Corporates

CHICAGO--()--Fitch Ratings has published a new report with recovery analyses for the following Latin America corporates as of Sept. 30, 2014:

--Alto Palermo S.A. (APSA)

--Arcor S.A.I.C.

--Arendal, S. de R. L. de C. V.

--Automotores Gildemeister S.A.

--Axtel, S.A.B. de C.V.

--Bio-PAPPEL, S.A.B. de C.V.

--Brookfield Incorporacoes S.A.

--CAMPOSOL Holding Ltd.

--Caparra Hills, Inc.

--Capex S.A.

--Ceagro Agricola Ltda.

--CEMEX, S.A.B. de C.V.

--Cimento Tupi S.A.

--Compania Latinoamericana de Infraestructura y Servicios

--Digicel Group Limited

--Empresa Generadora de Electricidad Itabo, S.A.

--Galvao Participacoes S.A.

--GeoPark Latin America Limited Agencia en Chile

--GOL Linhas Aereas Inteligentes S.A.

--Grupo Famsa, S.A.B. de C.V.

--Grupo Posadas, S.A.B. De C.V.

--Inversiones y Representaciones S.A.

--Marfrig Global Foods S.A.

--Mastellone Hermanos Sociedad Anonima

--Mendes Junior Trading e Engenharia S.A.

--Pan American Energy LLC

--Petroleos de Venezuela S.A. (PDVSA)

--Servicios Corporativos Javer, S.A.P.I. de C.V.

--Tonon Bioenergia S.A.

--U.S.J. - Acucar e Alcool S.A.

--Virgolino de Oliveira S/A Acucar e Alcool

--YPF S.A.

The interactive recovery analysis worksheets are available at 'www.fitchratings.com' or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

The Recovery Ratings reflect the application of Fitch's current criteria which is available on Fitch's website at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology' (May 28, 2014);

--'Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers' (November 2014).

Applicable Criteria and Related Research: Latin America Recovery Models - Third Quarter 2014

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=861346

Recovery Ratings and Notching Criteria for Non-Financial Corporate Issuers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=813588

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

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Contacts

Fitch Ratings
Joe Bormann, CFA
Managing Director
+1 312-368-3349
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL 60602
or
Media Relations, New York
Elizabeth Fogerty
+1 212-908-0526
elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Joe Bormann, CFA
Managing Director
+1 312-368-3349
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL 60602
or
Media Relations, New York
Elizabeth Fogerty
+1 212-908-0526
elizabeth.fogerty@fitchratings.com