Camargo Corrêa issues US$250m in international bonds, Brazil

Camargo Corrêa issues US$250m in international bonds, Brazil
Published: 10 May 2006

Brazilian civil engineering firm Camargo Corrêa has issued US$250m in senior unsecured bonds on international markets, local daily Valor Econômico reported. Both rating agencies Standard & Poor’s and Fitch Ratings assigned BB ratings to the 10-year bonds, as well as to Camargo Corrêa’s long-term issuer default rating in domestic currency and an A+ rating for foreign currencies. The rating agencies characterized all ratings as stable.  Camargo Corrêa will use the bond issue to refinance its short-term debt.