Fitch Affirms and Withdraws Cresud's Ratings

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed and withdrawn the ratings for Cresud S.A.C.I.F. y A. (Cresud). The Rating Outlook for the local currency Issuer Default Rating (IDR) was Negative at the time of the withdrawal.

Fitch has chosen to withdraw Cresud's ratings for commercial reasons.

KEY RATING DRIVERS

Fitch will no longer provide rating or analytical coverage of this issuer.

RATING SENSITIVITIES

No longer relevant as the ratings have been withdrawn.

FULL LIST OF RATING ACTIONS

Fitch has affirmed and withdrawn the following ratings:

Cresud S.A.C.I.F. y A. (Cresud).

--Foreign currency long-term IDR at 'CCC';

--Local currency long-term IDR at 'B-''

Additional information is available on www.fitchratings.com

Applicable Criteria

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage (pub. 17 Aug 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=869362

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=991623

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=991623

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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 MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150930006906/en/

Fitch Ratings
Primary Analyst:
Jose Vertiz, +1-212-908-0641
Director
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Daniel R. Kastholm, CFA, +1-312-368-2070
Regional Group Head - Latin America
or
Committee Chairperson:
Joe Bormann, CFA, +1-312-368-3349
Managing Director
or
Media Relations:
Alyssa Castelli, New York, +1 212-908-0540
[email protected]

Source: Fitch Ratings

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