Agencies withdraw ratings for Apasco’s bonds, Mexico

Fitch Ratings and Standard & Poor's have withdrawn their AAA ratings for the MXP950m (US$74.5m) receivables-backed bonds issued by cement manufacturers Cementos Apasco and Concretos Apasco following repayment in full of the issuance, according to reports from the ratings agencies.

The companies, subsidiaries of Holcim Apasco, repaid the issuance on 17 December, prior to the November 28, 2013 maturity date.