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S&P Affirms Santista Export Notes; Off Watch.
- Article from:
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PR Newswire
- Article date:
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November 30, 1999
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Copyright informationCOPYRIGHT 1999 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Nov. 30 /PRNewswire/ -- Standard & Poor's today removed its triple-'B'-minus rating on Santista Export Securitization I Ltd.'s US$150 million 8.09 securitized export notes from CreditWatch with developing implications, where it was placed on May 28, 1998, following changes stemming from Santista Alimentos S.A.'s (Santista) sale of its soybean processing capacity to Ceval Alimentos S.A. (Ceval). The rating was affirmed.
The rating action is the result of the assignment to Ceval of all of the obligations of Santista under the transaction, in a vote approved by noteholders who hold more than 80 of the outstanding principal balance of the transaction. Along with ...