Empresas IANSA S.A. http://www.alacrastore.com/company-snapshot/Empresas_IANSA_S_A-1039742 Wednesday, October 08, 2008 4:03:34 AM 1039742 Empresas IANSA S.A. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/bir/454067bir/454067normEmpresas Iansa S.A.ChileManufacturing: Sugar beet refining; production of animal feedstuffs, tomato puree and apple juice20623113129FJIANSA9/13/2008 6:40:01 AM454067Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/661422spcred/661422normThe latest News from S&Pglobal7/24/2008 6:44:31 PM100News661422ChilePackaged Foods & MeatsEmerging MarketsLatin AmericaGlobal IssuersCorporationsNewsBUENOS AIRES (Standard&Poor's) July 24, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on the Chilean sugar and agribusiness producer Empresas Iansa S.A. (IANSA; BB+/--) to negative from positive. "The action reflects the higher-than-expected deterioration in the company's financial metrics as a result of weaker cash-flow generation levels and greater use of debt to finance increased working capital needs (related to the merger with Jugos Concentrados S.A.) and capital expenditures," said Standard&Poor's credit analyst Ivana Recalde. For 2008, we expect financial metrics to remain weak as a consequence of lower profitability levels in the sugar business (given the reduction in sugar volumes produced in the domestic market that present higher margins thanCHL30202030 302020 3020 30Empresas Iansa S.A.300526EMERGINGLATAMERICAIANSA@CINEWSGLOBISSCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661423spcred/661423normThe latest Research Update from S&Pglobal7/24/2008 6:44:00 PM175Research Update661423ChilePackaged Foods & MeatsEmerging MarketsLatin AmericaGlobal IssuersCorporationsResearch UpdateOn July 24, 2008, Standard&Poor's Ratings Services revised its outlook on the Chilean sugar and agribusiness producer Empresas Iansa S.A. (IANSA; BB+/--) to negative from positive. The action reflects the higher-than-expected deterioration in the company's financial metrics as a result of weaker cash-flow generation levels and greater use of debt to finance increased working capital needs (related to the merger with Jugos Concentrados S.A) and capital expenditures. For 2008, we expect financial metrics to remain weak as a consequence of lower profitability levels in the sugar business (given the reduction in sugar volumes produced in the domestic market that present higher margins than imports). This would be only partially compensated by improvements in the juice business and inCHL30202030 302020 3020 30Empresas Iansa S.A.300526EMERGINGLATAMERICAIANSA@CIRESUPDCHL45073A30202030 302020 3020 30Iansa Overseas Ltd.307803EMERGINGLATAMERICAGLOBISSCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/385944_report_framefitch/385944_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Empresas IANSA S.A.800917555/9/2008 2:13:00 PM01030100425Full Rating ReportIANSA385944_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/370042_report_framefitch/370042_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Empresas IANSA S.A.800917551/29/2008 6:28:00 PM01030100385Full Rating ReportIANSA370042_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/325520_report_framefitch/325520_report_framepdfFull Rating Report80091755Empresas IANSA S.A.385Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.IANSA12/24/2007 11:15:29 AM325520_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/612240spcred/612240normThe latest Full Report from S&P11/8/2007 6:42:07 PMFull Report400global612240ChilePackaged Foods & MeatsEmerging MarketsLatin AmericaGlobal IssuersCorporationsFull ReportGood market position as the only sugar producer in Chile Supportive regulation (price protection) for sugar in Chile mitigates import competition and price volatility Debt reductions as a result of the sale of noncore assets Inherent risk in the commodity business, including price volatility and climatic risk Need to adjust raw material costs to compensate the declining sugar price protection levels from 2008 Certain client concentration The ratings on Empresas Iansa S.A. (IANSA) reflect the inherent risks affecting the agriculture commodity business, including price volatility and climatic risk. International sugar prices have historically been highly volatile as a consequence of deep market distortions, especially related to production subsidies and price supports. This risk is somewhat counterbalanced by the protection providedCHL30202030 302020 3020 30Empresas Iansa S.A.300526EMERGINGLATAMERICAIANSA@CIFULLGLOBISSCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/612241spcred/612241normThe latest Summary from S&P11/8/2007 6:42:07 PMSummary175global612241ChilePackaged Foods & MeatsEmerging MarketsLatin AmericaGlobal IssuersCorporationsSummaryThe ratings on Empresas Iansa S.A. (IANSA) reflect the inherent risks affecting the agriculture commodity business, including price volatility and climatic risk. International sugar prices have historically been highly volatile as a consequence of deep market distortions, especially related to production subsidies and price supports. This risk is somewhat counterbalanced by the protection provided by the sugar price band system in Chile. The ratings are also underpinned by the company's strong competitive position as the only sugar producer in Chile, IANSA's being one of the lowest-cost producers of sugar from beets, and the improvements in its financial profile. IANSA's financial profile improved as a result of the debt reduction after its divestiture of noncore assets during 2003 and 2004 andCHL30202030 302020 3020 30Empresas Iansa S.A.300526EMERGINGLATAMERICAIANSA@CISUMMARYGLOBISSCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/379832_pr_framefitch/379832_pr_framehtmlEmpresas IANSA S.A.8009175511/2/2007 2:13:34 PM0103010075Press ReleaseIANSAFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.379832_pr_frameCredit & Investment ResearchFitch Research