Fitch Affirms and Withdraws IMPSA/WPEI/Venti's Ratings

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed and then withdrawn the following ratings:

Industrias Metalurgicas Pescarmona S.A.I.C. y F.

--Long-term Issuer Default Rating (IDR) at 'D';

--Local currency IDR at 'D'.

WPE International Cooperatief U.A. (WPEI)

--Long-term IDR at 'D';

--Local currency IDR at 'D';

--USD390 million 10.375% senior unsecured notes due September 2020 and issued by WPEI at 'C/RR4'.

Venti S.A.

--Long-term IDR at 'D';

--Local currency IDR at 'D'.

KEY RATING DRIVERS

The ratings have been withdrawn after a 30-day notification period following the issuer's default. On April 30, 2015 Fitch notified the market it would be withdrawing the ratings on or about May 30, 2015.

RATING SENSITIVITIES

Fitch's last rating action on Venti and its various subsidiaries occurred on April 30, 2015, and the ratings are being withdrawn.

Additional information is available on www.fitchratings.com

Applicable Criteria

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage (pub. 28 May 2014)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=985863

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/20150604005834/en/

Fitch Ratings
Primary Analyst
Xavier Olave
Associate Director
+1-212-612-7895
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Paula Garcia Uriburu
Director
56-2-2499-3300
or
Committee Chairperson
Lucas Aristizabal
Senior Director
+1-312-368-3260
or
Media Relations:
Alyssa Castelli, +1 212-908-0540
[email protected]
Elizabeth Fogerty, +1 212-908-0526
[email protected]

Source: Fitch Ratings

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