Newswires

July 20, 2010 Newswires

Fitch Releases June Summary of Latin American Rating Actions

BUENOS AIRES, Argentina--(BUSINESS WIRE)-- The following is a comprehensive list of Fitch Ratings 101 Latin America National scale rating changes for the month of June 2010, which include: new ratings, upgrades, downgrades, Rating Outlook and Rating Watch revisions, and withdrawn ratings. These rating actions were previously announced via separate press releases in Spanish or Portuguese.

Fitch has assigned the following national ratings:

Banco Latinoamericano de Comercio Exterior (Bladex) (Chile)

--Bond Program No (en tramite) national long-term rating 'AA-(cl)';

(Rating action took place on June 1, 2010.)

HIR PYME S.A. de C.V., Sofol (Mexico)

--National long-term rating 'BB-(mex)';

--The Rating Outlook is Stable;

--National short-term rating 'B(mex)';

(Rating action took place on June 1, 2010.)

Scotiabank Chile (Chile)

--Bonds Serie I (BP Numero en tramite) national long-term rating 'AAA(cl)';

--Bonds Serie J (BP Numero en tramite) national long-term rating 'AAA(cl)';

--Bonds Program Numero (en tramite) national long-term rating 'AAA(cl)';

(Rating action took place on June 1, 2010.)

Banco de Chile and Subsidiaries (Chile)

--Bonds Serie UC national long-term rating 'AAA(cl)';

--Bonds Serie UD national long-term rating 'AAA(cl)';

--Bonds Serie UE national long-term rating 'AAA(cl)';

--Bonds Serie UF national long-term rating 'AAA(cl)';

--Bonds Serie UG national long-term rating 'AAA(cl)';

(Rating action took place on June 3, 2010.)

Municipio de Celaya, Gto. (Mexico)

--National long-term rating at 'AA-(mex)';

(Rating action took place on June 4, 2010.)

Facileasing, S.A. de C.V. (Mexico)

--Programa C.B. de C.P serie 2010 national short-term rating 'F2(mex)';

(Rating action took place on June 4, 2010.)

Banco Rodobens S.A. (Brasil)

--National long-term rating 'A(bra)';

--The Rating Outlook is Stable;

--National short-term rating 'F1(bra)';

(Rating action took place on June 4, 2010.)

Instituto para el Desarrollo y Financiamiento del Estado de Quintana Roo (Mexico)

--Loan HSBC serie 2010 national long-term rating 'AA(mex)';

--Loan Interacciones ser 2010 national long-term rating 'AA(mex)';

(Rating action took place on June 7, 2010.)

Companhia de Locacao das Americas (Brasil)

--National long-term rating 'BBB+(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 8, 2010.)

Empresa Distribuidora San Luis S.A. (Argentina)

--ONs Garantizadas Serie 5 series 5 national long-term rating 'BBB(arg)';

(Rating action took place on June 8, 2010.)

Empresa Distribuidora de Electricidad de Salta S.A. (Argentina)

--Ons garantizadas Serie 4 serie 4 national long-term rating 'BBB+(arg)';

--Senior unsecured debt national long-term rating 'BBB+(exp)(arg)';

(Rating action took place on June 8, 2010.)

Runtuna S.A. (Uruguay)

--Obligaciones Negociables serie 1 national long-term rating 'BBB(ury)';

--The Rating Outlook is Stable;

(Rating action took place on June 9, 2010.)

Instituto Municipal de Transito de Pereira (Colombia)

--National long-term rating 'BBB-(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 09, 2010.)

Municipio de Itagui (Colombia)

--National long-term rating 'A(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 9, 2010.)

Municipio de Monteria (Colombia)

--National long-term rating 'BB+(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 9, 2010.)

Empresa Distribuidora San Luis S.A. (Argentina)

--Guaranteed national long-term rating 'BBB+(exp)(arg)';

(Rating action took place on June 10, 2010.)

Banco Cetelem Argentina (Argentina)

--ON Clase 1 national long-term rating 'AA+(arg)';

--ON Clase 2 national short-term rating 'A1+(arg)';

(Rating action took place on June 10, 2010.)

Banco de Servicios Financieros S.A. (Argentina)

--ON Clase 1 national long-term rating 'AA(arg)';

(Rating action took place on June 10, 2010.)

Enjoy S.A. (Chile)

--Bonds Serie A (BP No 637) national long-term rating 'BBB+(cl)';

--Bonds Serie C (BP No 638) national long-term rating 'BBB+(cl)';

--The Rating Outlook is Positive;

(Rating action took place on June 15, 2010.)

Financiera Finsol, S.A. de C.V., SFOL (Mexico)

--National long-term rating 'BBB+(mex)';

--National short-term rating 'F2(mex)';

(Rating action took place on June 16, 2010.)

Rodobens Negocios Imobiliarios S.A. (Brasil)

--National long-term rating 'BBB(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 16, 2010.)

Estado de Nuevo Leon (Mexico)

--Loan Afirme - 2010 serie 2010 national long-term rating 'AA(mex)';

--Loan Bajio - 2010 serie 2010 national long-term rating 'AA(mex)';

(Rating action took place on June 16, 2010.)

Rodobens Negocios Imobiliarios S.A. (Brasil)

--Securities serie 2010-1 national long-term rating 'BBB+(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 16, 2010.)

Sul Invest Fundo de Investimento em Direitos Creditorios Multisetorial (Brasil)

--Mezzanine expected rating national long-term rating 'BB+(exp)(bra)';

--Debt serie 2009-1 national long-term rating 'BBB+(bra)';

--Debt serie 2010-2 expected rating national long-term rating 'BBB+(exp)(bra)';

--Debt serie 2010-3 expected rating national long-term rating 'BBB+(exp)(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 16, 2010.)

Electrificadora de Meta S.A. E.S.P. (Colombia)

--National long-term rating 'AA+(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 17, 2010.)

Orion Reinsurance Limited (Colombia)

--National Insurer Financial Strength 'BBB-(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 17, 2010.)

Empresa de Acueducto y Alcantarillado de Zipaquira EAAAZ E.S.P. (Colombia)

--National long-term rating 'BB(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 18, 2010.)

Multiservicios S.A. (Colombia)

--National long-term rating 'B-(col)';

--The Rating Outlook is Negative;

(Rating action took place on June 21, 2010.)

Brazilian Securities Companhia de Securitizacao (Brasil)

--Certificates serie 2009-130 national long-term rating 'A(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 21, 2010.)

Seguros e Inversiones, S.A. y Filial (El Salvador)

--National Insurer Financial Strength rating 'AAA(slv)';

--The Rating Outlook is Stable;

(Rating action took place on June 23, 2010.)

Hypermarcas S.A. (Brasil)

--National long-term rating 'A+(bra)';

--The Rating Outlook is Stable;

--3rd Debentures Issue national long-term rating 'A+(bra)';

(Rating action took place on June 23, 2010.)

Montepio Luz Savinon, Institucion de Asistencia Privada (Mexico)

--Prog. C.B de L.P serie 2010 national long-term rating at 'AA+(mex)';

(Rating action took place on June 24, 2010.)

OAS Empreendimentos S.A. (Brasil)

--National long-term rating 'BB+(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 24, 2010.)

Union de Credito de Productores de Cafe de Oaxaca (Mexico)

--National short-term rating 'B(mex)';

(Rating action took place on June 24, 2010.)

Acueducto y Alcantarillado de Popayan S.A. E.S.P. (Colombia)

--National long-term rating 'BBB-(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 28, 2010.)

Patrimonio Autonomo Concesionaria de Occidente S.A. (Colombia)

--Toll road securitization serie A national long-term rating 'AAA(col)';

--Toll road securitization serie B national long-term rating 'AA+(col)';

--Toll road securitization serie C national long-term rating 'AA+(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 28, 2010.)

Liag Argentina S.A. (Argentina)

--Valores de Corto Plazo national short-term rating 'AA+(arg)';

(Rating action took place on June 28, 2010.)

Fideicomiso de Fomento Minero (Mexico)

--FIFOMI 00110 series 2010 national short-term rating 'F1(mex)';

--Programa de C.B. de C.P ser 2010 national short-term rating 'F1(mex)';

(Rating action took place on June 29, 2010.)

Banco Economico S.A. (Bolivia)

--National long-term rating 'A+(bol)';

--The Rating Outlook is Stable;

--National short-term rating 'F1(bol)';

--National long-term local currency rating 'AA(bol)';

--The Rating Outlook is Stable;

--National short-term local currency rating 'F1+(bol)';

(Rating action took place on June 30, 2010.)

Banco Nacional de Bolivia S.A. (Bolivia)

--National long-term rating 'AA-(bol)';

--National short-term rating 'F1+(bol)';

--National long-term local currency rating 'AAA(bol)';

--National short-term local currency rating 'F1+(bol)';

--The Rating Outlook is Stable;

(Rating action took place on June 30, 2010.)

CRESUD S.A. (Argentina)

--ON Clase 3 national long-term rating 'A(arg)';

--ON Clase 4 national long-term rating 'A(arg)';

(Rating action took place on June 30, 2010.)

Citi Structures Mexico S. de R.L. de C.V. (Mexico)

--CITIMEX 10-2 series 2010 national long-term rating 'AA(mex)';

(Rating action took place on June 30, 2010.)

La Boliviana Ciacruz de Seguros y Reaseguros S.A. (La Boliviana) (Bolivia)

--National Insurer Financial Strength 'AA+(bol)';

(Rating action took place on June 30, 2010.)

Seguros Illimani S.A. (Bolivia)

--National Insurer Financial Strength 'BBB(bol)';

(Rating action took place on June 30, 2010.)

Seguros y Reaseguros Credinform International S.A. (Bolivia)

--National Insurer Financial Strength 'A(bol)';

(Rating action took place on June 30, 2010.)

Zurich Boliviana Seguros Personales S.A. (Zurich Vida) (Bolivia)

--National Insurer Financial Strength 'AA+(bol)';

(Rating action took place on June 30, 2010.)

Corporacion Unviersitaria de la Costa (Colombia)

--The Rating Outlook is Stable;

(Rating action took place on June 30, 2010.)

Fideicomiso Financiero NASA (Argentina)

--Valores Representativos de Deuda Serie A national long-term rating 'A-(arg)';

--Valores Representativos de Deuda Serie B national long-term rating 'A-(arg)';

--The Rating Outlook is Stable;

(Rating action took place on June 30, 2010.)

Electropaz(Bolivia)

--Bonos Electropaz II national long-term rating at 'AA-(bol)';

(Rating action took place on June 30, 2010.)

Fitch has upgraded the following national ratings:

MPD KC Fundo de Investimento em Direitos Creditorios Imobiliarios (Brasil)

--Residential mortgage-backed securitization ser 2007-1 National long-term rating to 'A+(bra)' from 'A(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 1, 2010.)

Inteligo Bank Ltd. (Panama)

--National long-term rating to 'BBB(pan)' from 'BBB-(pan)';

--The Rating Outlook is Stable;

(Rating action took place on June 1, 2010.)

Empresa Distribuidora de Electricidad de Salta S.A. (Argentina)

--National long-term rating to 'BBB+(arg)' from 'BBB(arg)';

--Senior secured medium-term notes serie 1 national long-term rating to 'BBB+(arg)' from 'BBB(arg)';

(Rating action took place on June 8, 2010.)

Empresa Distribuidora de Electricidad de La Rioja (Argentina)

--National long-term rating to 'BBB+(arg)' from 'BBB(arg)';

--Senior secured medium-term notes serie 1 national long-term rating to 'BBB+(arg)' from 'BBB(arg)';

(Rating action took place on June 8, 2010.)

Empresa Distribuidora de Electricidad de Salta S.A. (Argentina)

--National long-term rating to 'BBB+(arg)' from 'BBB(arg)';

--Senior secured medium-term notes serie 1 national long-term rating to 'BBB+(arg)' from 'BBB(arg)';

(Rating action took place on June 8, 2010.)

Industrias Metalurgicas Pescarmona S.A. (IMPSA) (Argentina)

--National long-term rating to 'AA-(arg)' from 'A(arg)';

--The Rating Outlook is Stable;

--ON Serie 2 national long-term rating to 'AA-(arg)' from 'A(arg)';

--ON Serie 3 national long-term rating to 'AA-(arg)' from 'A(arg)';

--Senior unsecured notes national long-term rating to 'AA-(arg)' from 'A(arg)';

--Senior unsecured notes series REGS national long-term rating to 'AA-(arg)' from 'A(arg)';

(Rating action took place on June 8, 2010.)

Sul America S.A. (Brasil)

--National long-term rating to 'AA(bra)' from 'AA-(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 29, 2010.)

Asociacion Romana de Ahorros y Prestamos (Republica Dominicana)

--National long-term rating to 'BB-(dom)' from 'B(dom)';

(Rating action took place on June 10, 2010.)

MAPFRE BHD Compania de Seguros, S.A. (Republica Dominicana)

--National Insurer Financial Strength to 'A(dom)' from 'A-(dom)';

(Rating action took place on June 10, 2010.)

Grupo Bimbo, S.A. (Mexico)

--BIMBO 02-2 serie 02-2 national long-term rating to 'AA+(mex)' from 'AA(mex)';

--Rating Outlook revised to Positive from Stable;

--BIMBO 09 serie 2009 national long-term rating to 'AA+(mex)' from 'AA(mex)';

--BIMBO 09-02 serie 2009 national long-term rating to 'AA+(mex)' from 'AA(mex)';

--BIMBO 09U serie 2009 national long-term rating to 'AA+(mex)' from 'AA(mex)';

--The Rating Outlook is Positive;

(Rating action took place on June 10, 2010.)

Estado de Mexico (Mexico)

--National long-term rating to 'A-(mex)' from 'BBB+(mex)';

--BBVA Bancomer 2 serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--BBVA Bancomer serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--BBVA Banamex serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Bank Loan Bajio serie 2009 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Loans Banorte (1) serie 2004 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Loans Banorte 2008 serie 2008 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Banorte serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Dexia 1 serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Dexia 2 serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--FOREMEX serie 2004 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--HSBC serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--ISSSEMYM serie 2004 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Inbursa serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Interacciones serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Santander serie 2008 national long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Loans Banorte serie 2005 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Loans Bansi serie 2006 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Loans Dexia serie 2006 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--Loans Inbursa serie 2006 national long-term rating to 'AA(mex)' from 'AA-(mex)';

--The Rating Outlook is Stable;

(Rating action took place on June 10, 2010.)

Motor Credito, S.A., Banco de Ahorro y Credito (Republica Dominicana)

--National long-term rating to 'BBB+(dom)' from 'BBB(dom)';

--National short-term rating to 'F2(dom)' from 'F3(dom)';

--Bonos Corproativos serie 2008 national long-term rating to 'BBB+(dom)' from 'BBB(dom)';

(Rating action took place on June 22, 2010.)

Carso Global Telecom, S.A.B. de C.V. (Mexico)

--National long-term rating to 'AAA(mex)' from 'AA(mex)';

--National short-term rating to 'F1+(mex)' from 'F1(mex)';

--Removed from Rating Watch Positive;

(Rating action took place on June 23, 2010.)

Telmex Internacional S.A.B. de C.V. y Subsidiarias (Mexico)

--National long-term rating to 'AAA(mex)' from 'AA+(mex)';

--Dual Certificates Program national long-term rating to 'AAA(mex)' from 'AA(mex)';

--TELINT 09-2 serie 2009 national long-term rating to 'AAA(mex)' from 'AA(mex)';

--TELINT 09 serie 2009 national long-term rating to 'AAA(mex)' from 'AA(mex)';

--Removed from Rating Watch Positive;

(Rating action took place on June 23, 2010.)

Sociedad Anonima Inmobiliaria Terrenos y Establecimientos Comerciales S.A. (Chile)

--National long-term rating to 'AA-(cl)' from 'A+(cl)';

--Bonds Serie A national long-term rating to 'AA-(cl)' from 'A+(cl)';

--Bonds Serie B national long-term rating to 'AA-(cl)' from 'A+(cl)';

--Bond Program No 463 national long-term rating to 'AA-(cl)' from 'A+(cl)';

--The Rating Outlook is Stable;

(Rating action took place on June 24, 2010.)

Furnas Centrais Eletricas S.A. (Brasil)

--National long-term rating to 'AA+(bra)' from 'AA(bra)';

--Rating Outlook revised to Positive from Stable;

(Rating action took place on June 29, 2010.)

Caja de Compensacion de Asignacion Familiar La Araucana (Chile)

--National long-term rating to 'A(cl)' from 'A-(cl)';

--The Rating Outlook is Stable;

(Rating action took place on June 30, 2010.)

Banco da Amazonia S.A. (Brasil)

--National long-term rating to 'AA+(bra)' from 'AA(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 30, 2010.)

Caixa Economica Federal (Brasil)

--National long-term rating to 'AA+(bra)' from 'AA(bra)';

--The Rating Outlook is Stable;

(Rating action took place on June 30, 2010.)

Santander Sociedad Securitizadora (Chile)

--PS 2000-2 residential mortgage-backed securitization serie 2000-2 C national long-term rating to 'AAA(cl)' from 'AA(cl)';

--PS 2000-2 residential mortgage-backed securitization serie 2000-2 D national long-term rating to 'AAA(cl)' from 'AA(cl)';

--Rating Outlook revised to Stable from Positive;

(Rating action took place on June 30, 2010.)

Fitch has also downgraded the following ratings:

Hipotecaria Su Casita, S.A. de C.V. SOFOL (Mexico)

--National long-term rating to 'BB-(mex)' from 'BBB(mex)';

--Placed on Rating Watch Negative;

--National short-term rating to 'B(mex)' from 'F2(mex)';

--Placed on Rating Watch Negative;

--CASIT07-3 serie 2007 National long-term rating to 'BB-(mex)' from 'BBB(mex)';

--Placed on Rating Watch Negative;

--CASITA 07-2 serie 2007 national long-term rating to 'BB-(mex)' from 'BBB(mex)';

--Placed on Rating Watch Negative;

--CASITA 06 serie 2006 national long-term rating to 'BB-(mex)' from 'BBB(mex)';

--Placed on Rating Watch Positive;

--CASITA 06-02 serie 2006 national long-term rating to 'BB-(mex)' from 'BBB(mex)';

--CASITA 07 serie 2007 national long-term rating to 'BB-(mex)' from 'BBB(mex)';

--Placed on Rating Watch Negative;

(Rating action took place on June 2, 2010.)

EMGASUD S.A. (Argentina)

--National long-term rating to 'CCC(arg)' from 'BB+(arg)';

--Removed from Rating Watch Negative;

(Rating action took place on June 2, 2010.)

Facileasing, S.A. de C.V. (Mexico)

--National long-term rating to 'A-(mex)' from 'A(mex)';

--Rating Outlook revised to Negative from Stable;

--National short-term rating to 'F2(mex)' from 'F1(mex)';

--FACILSA 07 serie 2007 national long-term rating to 'A-(mex)' from 'A(mex)';

--FACILSA 08 ser 2008 national long-term rating to 'A-(mex)' from 'A(mex)';

--Rating Outlook revised to Negative from Stable;

--Programa C.B. de L.P serie 2006 national long-term rating to 'A-(mex)' from 'A(mex)';

--The Rating Outlook is Negative;

(Rating action took place on June 4, 2010.)

Union de Credito Allende, S.A. de C.V. (Mexico)

--National long-term rating to 'BB-(mex)' from 'BB(mex)';

--The Rating Outlook is Stable;

(Rating action took place on June 4, 2010.)

Vertice VERTICB07 (F#238988) (Mexico)

--National long-term rating to 'A(mex)' from 'AAA(mex)';

--Rating Watch Negative;

(Rating action took place on June 14, 2010.)

Desarrollos Forestales San Carlos II S.A. (DEFORSA II) (Venezuela)

--National long-term rating to 'BBB+(ven)' from 'A-(ven)';

--Rating Outlook is Negative; removed from Rating Watch Negative;

(Rating action took place on June 15, 2010.)

Banco Trasatlantico SA (Panama)

--National long-term rating to 'B-(pan)' from 'B(pan)';

--Placed on Rating Watch Negative;

(Rating action took place on June 16, 2010.)

Estado de Nuevo Leon (Mexico)

--National long-term rating to 'A(mex)' from 'A+(mex)';

--Removed from Rating Watch Negative;

(Rating action took place on June 16, 2010.)

Compania Financiera Argentina (Argentina)

--National long-term rating to 'A(arg)' from 'A+(arg)';

--Removed from Rating Watch Negative;

(Rating action took place on June 16, 2010.)

Aserca Airlines C.A. (Venezuela)

--National long-term rating to 'A+(ven)' from 'AA(ven)';

--National short-term rating to 'A1(ven)' from 'A1+(ven)';

(Rating action took place on June 22, 2010.)

Sociedad Electrica Santiago S.A. (ESSA) (Chile)

--National long-term rating to 'BB(cl)' from 'BBB+(cl)';

--Senior unsecured bonds serie B national long-term rating to 'BB(cl)' from 'BBB+(cl)';

--Rating Watch Negative;

(Rating action took place on June 23, 2010.)

Titularizadora UVR E-2 (Colombia)

--Securities B national long-term rating to 'B+(col)' from 'BB-(col)';

--Rating Outlook revised to Negative from Stable;

(Rating action took place on June 23, 2010.)

Titularizadora UVR E-4 (Colombia)

--Securities B national long-term rating to 'B+(col)' from 'BB-(col)';

--Placed on Rating Watch Negative;

--Securities A-3 national long-term rating to 'AA+(col)' from 'AAA(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 23, 2010.)

Patrimonio, S.A. de C.V., S.F.O.L. (Mexico)

--National long-term rating to 'BBB-(mex)' from 'BBB(mex)';

--Rating Outlook revised to Negative from Stable;

--National short-term rating to 'F3(mex)' from 'F2(mex)';

--Patrimonio 10 serie 2010 national long-term rating to 'BBB+(mex)' from 'A-(mex)';

--Patrimonio 10 serie 2010 national long-term rating to 'BBB-(mex)' from 'BBB(mex)';

--Assigned Negative Rating Outlook;

--Programa Dual de C.B. de C.P. serie 2006 national short-term rating to 'F3(mex)' from 'F2(mex)';

(Rating action took place on June 28, 2010.)

Sociedad de Ahorro y Credito Apoyo Integral, S.A. (El Salvador)

--National long-term rating to 'BBB-(slv)' from 'BBB(slv)';

--Rating Outlook revised to Negative from Stable;

(Rating action took place on June 30, 2010.)

Fitch has made the following Outlook and Rating Watch revisions:

Fundo de Investimento em Direitos Creditorios Marcopolo Financeiro (Brasil)

--Securities serie 2006-1 national long-term rating at 'AA-(bra)';

--Assigned Stable Rating Outlook;

(Rating action took place on June 2, 2010.)

Fundo de Investimento em Direitos Creditorios Omni CDC Veiculos III (Brasil)

--Consumer loans serie 2006-1 national long-term rating at 'AA+(bra)';

--Consumer loans serie 2007-2 national long-term rating at 'AA+(bra)';

--Placed on Rating Watch Negative; removed Negative Rating Outlook;

(Rating action took place on June 02, 2010.)

Fundo de Investimento em Direitos Creditorios Omni CDC Veiculos IV (Brasil)

--Consumer loans serie 2007-1 national long-term rating at 'AA-(bra)';

--Placed on Rating Watch Negative; removed Negative Rating Outlook;

(Rating action took place on June 2, 2010.)

Fundo de Investimento em Direitos Creditorios Omni CDC Veiculos V (Brasil)

--Consumer loans serie 2007-1 national long-term rating at 'AA+(bra)';

--Securities serie 2008-1 national long-term rating at 'AA+(bra)';

--Placed on Rating Watch Negative; removed Negative Rating Outlook;

(Rating action took place on June 2, 2010.)

San Agustin SAGUSCB04 (F#242837) (Mexico)

--Securities serie 2006-1 national long-term rating at 'AA-(mex)';

--Placed on Rating Watch Negative; removed Negative Rating Outlook;

(Rating action took place on June 4, 2010.)

Chilena Consolidada Seguros Generales S.A. (Chile)

--National long-term rating at 'AA+(cl)';

--Rating Outlook revised to Stable from Negative;

(Rating action took place on June 4, 2010.)

Marfrig Alimentos S.A. (Brasil)

--National long-term rating at 'BBB+(bra)';

--Placed on Rating Watch Negative; removed Stable Rating Outlook;

(Rating action took place on June 16, 2010.)

Municipio de Atizapan de Zaragoza, E.M. (Mexico)

--Securities serie 2006-1 national long-term rating at 'AA(mex)';

--Placed on Rating Watch Negative;

(Rating action took place on June 28, 2010.)

Banco Ripley (Chile)

--National long-term rating at 'A(cl)';

--National short-term rating at 'N1(cl)';

--Rating Outlook revised to Stable from Negative;

(Rating action took place on June 30, 2010.)

Fitch has affirmed and withdrawn the following ratings:

Empresa de los Ferrocarriles del Estado (Chile)

--Guaranteed bonds serie 0 national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie D1 national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie F national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie G national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie H national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie J national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie K national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie L national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie M national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie N national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie P national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie R national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie S national long-term rating at 'AAA(cl)';

--Guaranteed bonds serie T national long-term rating at 'AAA(cl)';

(Rating action took place on June 11, 2010.)

Municipio de Acolman, E.M. (Mexico)

--National long-term rating at 'BBB(mex)';

(Rating action took place on June 14, 2010.)

E.S.E. Hospital Universitario Hernando Moncaleano Perdomo de Neiva (Colombia)

--National long-term rating at 'A(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 15, 2010.)

Empresa Ibaguerena de Acueducto y Alcantarillado IBAL S.A. E.S.P. (Colombia)

--National long-term rating at 'A(col)';

--Rating Outlook is Stable;

(Rating action took place on June 15, 2010.)

Municipio de Floridablanca (Colombia)

--National long-term rating at 'BBB+(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 16, 2010.)

Beneficencia del Valle del Cauca - Loteria del Valle (Colombia)

--National long-term rating at 'BB(col)';

--The Rating Outlook is Positive;

(Rating action took place on June 21, 2010.)

Infrastructure Celular - Infracel S.A. E.S.P. (Colombia)

--National long-term rating at 'AAA(col)';

--The Rating Outlook is Stable;

(Rating action took place on June 28, 2010.)

Industria Nigua (Republica Dominicana)

--National long-term rating at 'A+(dom)';

--National short-term rating at 'F1(dom)';

(Rating action took place on June 29, 2010.)

Additional information on these rating actions is available on the Fitch Ratings web site at:

--Fitch Ratings - www.fitchratings.com;

--Fitch Argentina/Uruguay - www.fitchratings.com.ar;

--Fitch Brazil - www.fitchratings.com.br;

--Fitch Chile - www.fitchratings.cl;

--Fitch Mexico - www.fitchmexico.com;

--Fitch Venezuela - www.fitchvenezuela.com.

National Ratings are an assessment of credit quality relative to the rating of the 'best' credit risk in a country. This 'best' risk will normally, although not always, be assigned to all financial commitments issued or guaranteed by the sovereign state.

Additional information is available at www.fitchratings.com.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings
Laura Villegas, +54 11 5235-8139 (Buenos Aires)
or
Brian Bertsch, +1-212-908-0549
(Media Relations, New York)
[email protected]

Source: Fitch Ratings

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