NEW YORK & MONTERREY--(BUSINESS WIRE)--Fitch Ratings has affirmed Desarrolladora Homex, S.A.B. de C.V.'s (Homex) ratings and simultaneously withdrawn them as follows:
--Foreign currency Issuer Default Rating (IDR) at 'RD';
--Local currency IDR at 'RD';
--USD250 million in senior notes due 2015 at 'C/RR4';
--USD250 million in senior notes due 2019 at 'C/RR4';
--USD400 million in senior notes due 2020 at 'C/RR4'.
KEY RATING DRIVERS
Fitch has withdrawn the aforementioned ratings due to Homex's ongoing financial debt restructuring process. Accordingly, Fitch will no longer provide ratings or analytical coverage for Homex.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Corporate Rating Methodology', Aug. 5, 2013;
--'2013 Outlook: Mexican Homebuilders', Dec. 21, 2012;
--'Fitch Places Mexican Homebuilders on Rating Watch Negative', Feb. 22, 2012.
Applicable Criteria and Related Research:
Corporate Rating Methodology: Including Short-Term Ratings and Parent and Subsidiary Linkage
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715139
2013 Outlook: Mexican Homebuilders
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=696675
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=812284
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