Fitch maintains Cementos Bío Bío A+ ratings

Fitch Ratings has maintained its A+ rating on bonds issued by Chilean cement producer Cementos Bío Bío, keeping the outlook at stable, the ratings agency said Wednesday. The rating is for bond series D and E issued in 2001 in the country's inflation-indexed unit the UF for a total nominal of US$87.8mn (based on today's rate). The series expire 2007 and 2022, respectively. Fitch kept the ratings due to Bío Bío's experience and operational integration, adequate financial situation and diversified revenue structure. Factors that restrict the rating are variations in demand for its principal products and the risk of operating in countries with reduced economic stability, said the agency. Cementos posted a 24.4bn-peso (US$41.7mn) consolidated net profit in 2004, up 18.7% from the previous year. The Briones, Rozas and Stein families control 63.2% of Bío Bío, Mexico's Cemex 11.9% and others the balance. For Fitch's report (in Spanish), paste the following link in your browser: www.bnamericas.com/rc_search_detail.xsql?id_documento=66543&Tx_idioma=E