(Reuters) - July 20 - Fitch Ratings has affirmed and removed all of
Doral Financial Corporation's ratings from Rating
Watch Negative and DRL's Rating Outlook is Positive. Fitch
currently rates DRL's long-term Issuer Default Rating
'CCC'. The Support Rating Floor for DRL and its principal
subsidiary remains unchanged at No Floor . Please see a
complete list of affected ratings at the end of this release.
DRL's Positive Rating Outlook is driven by the closing of
the equity sale and the payment of a significant impending debt
maturity. On July 19, DRL announced that it had received all
regulatory approvals and closed the equity sale of a 90% stake
to Bear Stearns Merchant Banking for $610 million. In addition,
DRL announced today that they have paid the impending $625
million debt maturity.
Read more at Reuters.com Bonds News
Doral Financial Corporation's ratings from Rating
Watch Negative and DRL's Rating Outlook is Positive. Fitch
currently rates DRL's long-term Issuer Default Rating
'CCC'. The Support Rating Floor for DRL and its principal
subsidiary remains unchanged at No Floor . Please see a
complete list of affected ratings at the end of this release.
DRL's Positive Rating Outlook is driven by the closing of
the equity sale and the payment of a significant impending debt
maturity. On July 19, DRL announced that it had received all
regulatory approvals and closed the equity sale of a 90% stake
to Bear Stearns Merchant Banking for $610 million. In addition,
DRL announced today that they have paid the impending $625
million debt maturity.
Read more at Reuters.com Bonds News
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