New York, July 14, 2015 -- Moody's Investors Service today downgraded the Corporate Family Rating on Administración Nacional de Combustibles, Alcohol y Portland (ANCAP) to B1 from Ba2. Moody's also downgraded the company's Baseline Credit Assessment (BCA) to caa1 from b2. These rating actions reflect the company's weak credit metrics, which Moody's believes will not reverse rapidly. The outlook on the ratings is stable.
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