Fitch has lowered Mirax Group’s ratings
Following Moody’s example, Fitch has also has lowered Mirax Group’s ratings - it has been caused by Mirax Group’s debt in $601 million, which the company should pay in 2009.
Agency Fitch has lowered long-term ratings of a default of the emitter under promissory notes from B (high speculating degree) to C (high risk degree). The short-term rating has been lowered from B to C, thus all ratings are on revision with the negative forecast.
Decrease of ratings reflects concern weak position of Mirax Group’s liquidity.
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