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TAM to sell 10-year global dollar-denominated bonds

19-Oct-2009 1:53 PM

TAM plans to issue USD300 million in proposed senior guaranteed notes due in 2019, with Banco Santander SA and Citigroup Inc to arrange the sale (Bloomberg, 16-Oct-2009). Fitch Ratings assigned (16-Oct-2009) a 'BB-' rating to the proposed bond offering. TAM's Foreign and Local currency Issuer Default Ratings (IDR) are currently 'BB-' and its National Scale Rating is 'A-(bra)'. The Rating Outlook is 'Negative' for all of TAM's corporate ratings. [more]