Resumen Semanal - Acciones de Calificación

Fitch Argentina: Acciones de Calificación Resumen semanal de acciones de calificación del 19 al 23 de abril de 2010 A continuación, Fitch Ratings' Latin America Weekly Recap (o resumen semanal de calificaciones de Latinoamérica) de esta semana. Para información adicional, comunicados de prensa o informes, Ud. puede consultar nuestra página web Fitch Argentina www.fitchratings.com.ar o www.fitchratings.com. >China's New Property Policies Have Limited Impact on End-User Demand and Developer Ratings >Featured Comment: Fitch: China Property Measures to Cool Sentiment; Limited Impact on Developer Ratings The recently announced property market policies are consistent with the government's goal to deflate bubbles when necessary to ensure a healthy long-term trend in the real estate sector. While the policies of curbing lending on second or additional residential property acquisitions will reduce demand from investors and speculators who may find it more difficult to finance their purchases, demand from end-users is believed to remain strong, underpinned by China's continued urbanization and income growth. Although the measures are expected to moderately cool market sentiments, Fitch expects limited impact on the existing ratings of property developers given their relatively strong balance sheets. Common strengths include having significant cash on hand with project level construction bank facilities in place. Furthermore, the rated developers are used to dealing with market downturns and are therefore likely to adjust their marketing and land acquisition strategies to ensure healthy working capital management. Finally, the withdrawal of a number of state-owned enterprises from the real estate market will reduce competitive pressures for the remaining players. For more information, please click on the above link. >Other Special Reports/Comments: -Latin America Sovereign Outlook 2010 -Emerging Market Insolvency Regimes -Fitch Releases March Summary of Latin American Rating Actions -Asia-Pacific Monthly - April 2010 -South African Automotive Sector to Improve in 2010 -Caspian Oil and Gas - In the Spotlight -Global Power Monthly Summary -- March 2010 -Indonesia Banks Annual Review -EMEA Structured Finance Sector Outlook - April 2010 -EMEA Emerging Markets Corporate Rating Outlooks Improving - Amended -Fitch Revises Thailand's Local Currency Rating Outlook to Negative >Rating Actions: -Argentina Fitch Rates Pan American Energy Sucursal Argentina's Proposed Note Offering 'BB-' Fitch confirma la calificacion de Edesur'; Perspectiva Estable Fitch Argentina confirma en BB(arg) las ONs de Euromayor Fitch confirma la califi de las ONs clase 3 de Telecom Personal Fitch confirma las calificaciones de Tinuviel 6, 7 y 8 Fitch confirma en AA+(arg) los titulos de TASA Fitch Argentina confirmo en Categoria 3 las acciones de THA Fitch confirma las acciones de Metrovias en Categoria 4 Fitch confirma la calificacion de CLISA en BBB-(arg) Fitch Argentina confirmo en 2 las acciones de S.A. San Miguel Fitch bajo a BB+(arg) con RW Negativo la calif de Emgasud Fitch confirma en BBB(arg) las ONs de Los Grobo Agropecuaria Fitch confirma las calificaciones de Telecom Argentina. Fitch confirmo en Categoria 2 a las acciones de Consultatio Fitch confirma en AA-(arg) a las ONs de Juan Minetti S.A Fitch confirma la calificacion de Berkley Seguros Fitch confirma la calificacion de Galicia Seguros Fitch confirma la Calificacion de CNP Fitch confirmo en Categoria 1 las acciones de Tenaris Fitch confirma calific a Asoci.Trabaj Argent Mutualiz - ATAM -Brazil Fitch Assigns 'BB' to Fibria Notes Fitch Rates Braskem's Proposed Notes Due 2020 'BB+' Fitch Atribui Rating Preliminar 'A+(bra)' a Primeira Emissao de CCI da Kamate 04 -Chile Fitch Sube a 'A-(cl)' Clasificacion de Madeco; Outlook Estable Fitch Sube Clasificacion de Seguros Camara -Dominican Republic Fitch Ratifica la Calificacion de Riesgo Nacional de Asociacion La Nacional Fitch asigna Calificacion de Riesgo Nacional a Emision de Bonos Garantizados de AES Andres B.V. -El Salvador Fitch aumenta calificacion a emision de La Hipotecaria en El Salvador -Mexico Fitch Ratings ratifica la calificacion de AA(mex) del Estado de Aguascalientes Fitch califica en 'AAA(mex)' una emision de Certificados Bursatiles Bancarios de Banco Santander Fitch Ratings ratifica las calificaciones de Servicios de Agua y Drenaje de Monterrey (SADM) Fitch asigna 'AAA(mex)'/'F1+(mex)' a nuevo programa del INFONACOT Fitch ratifica a Union de Credito Ganadero de Tabasco en 'B+(mex)' y retira la perspectiva negativa Fitch ratifica calificaciones corporativas de AAA(mex) y F1+(mex) a De Lage Landen Fitch ratifica la calificacion al organismo Carreteras de Cuota Puebla Fitch ratifica en 'AAA(mex)' la calificacion de Asigna, Compensacion y Liquidacion. Fitch asigna 'F3(mex)' a un Programa de Certificados Bursatiles de Corto Plazo de COPAMEX -Panama Fitch Sube Calificacion de Caja de Ahorros hasta 'AA+(pan)'; Perspectiva Estable Fitch Rates Banco Nacional De Panama's IDR 'BBB-'; Outlook Positive Fitch afirma calificaciones de La Hipotecaria en Panama Additional information can be found on the Fitch Ratings website, 'www.fitchratings.com'.