Cement News tagged under: Cimentos Tupi
Fitch downgrades Cemento Tupi's ratings23 March 2015, Published under Cement NewsFitch Ratings has downgraded Cimento Tupi SA's (Tupi) ratings as follows: foreign currency Issuer Default Rating (IDR) to 'CCC' from 'B-'; Local currency IDR to 'CCC' from 'B-'; Senior unsecured notes due 2018 to 'CCC/RR4' from 'B-/RR4'; --Long-term National Rating to 'CCC(bra)' from 'BB+(bra)'. The downgrade reflects the company's inability to deleverage or improve its liquidity position despite solid growth in sales volumes during 2014, Fitch writes. The rating's agency expects Tupi will ... |
Cimentos Tupi to build new plant in Paraná state05 September 2014, Published under Cement NewsBrazilian producer Cimentos Tupi is to invest BRL915m (US$408m) in a new factory in Adrianópolis, Paraná state. According to local news reports, the plant will have a capacity of 1.5Mta. Cimentos Tupi executives signed a letter of intent with the state government of Paraná yesterday. The new investment will be the company’s first cement facility to be located in the south. (Source: Revista Amanhnã). |
Fitch Ratings affirms Cimentos Tupi's rating, Brazil01 April 2013, Published under Cement NewsFitch Ratings has affirmed Brazilian cement producer's Cimentos Tupi's 'B' ratings but has warned that a ratings downgrade could result from delays in the inauguration of the its new kiln. Tupi is expected to receive government licenses to start operation of its Pedra do Sino kiln during May. "Receiving the approval in a timely manner will be crucial to avoiding a future downgrade, as the company's size is not sufficient to support its debt obligations over the medium term without the sa... |
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