SMU S.A. -- Moody's: SMU's agreement to reschedule its bank debt is credit positive

Sao Paulo, February 03, 2014 -- On January 31st, 2014, SMU S.A. ("SMU"), rated Caa1/negative, announced a rescheduling agreement with its creditors for a portion of its bank debt amounting to CHP 233,629,834,536 (approximately USD 422 million), which also included bank debt with its subsidiaries and joint guarantors. The rescheduled agreement is to be paid in different tranches and is considered credit positive for SMU as it improves its debt maturity profile and overall liquidity, following the successful completion of the equity capital increase of USD 300 million, provided by its principal shareholder, Álvaro Saieh, in November, 2013.

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