Fitch downgrades Vitro ratings

Fitch Ratings has downgraded the following ratings for Vitro, S.A.B. de C.V.: Long-term Issuer Default Rating (IDR) to “D“ from “C “; Long-term foreign currency IDR to “D“ from “C“; National s…

Fitch Ratings has downgraded the following ratings for Vitro, S.A.B. de C.V.: Long-term Issuer Default Rating (IDR) to “D“ from “C “; Long-term foreign currency IDR to “D“ from “C“; National scale long-term rating to “D(mex)“ from “C(mex)“; and Certificados Bursatiles issuances to “D(mex)“ from “C(mex)“. In addition, Fitch has affirmed the following ratings: USD 300 million senior notes due 2012 at “CC/RR4“; USD 225 million senior notes due 2013 at “CC/RR4“; and USD 700 million senior notes due 2017 at “CC/RR4“. The rating downgrades follow Vitro“s announcement that it will not make payment of the Certificados Bursatiles “VITRO 03“ for approximately MXP 150 million plus accrued interest. The “CC/RR4“ rating on Vitro“s senior notes reflects average recovery prospects given default. Fitch“s rating definitions and the terms of use of such ratings are available on the agency“s public site.