Moody's says that the buyout offer of Corporacion Scribe by Grupo Bio Pappel does not affect Scribe's rating at this time
Global Credit Research - 28 Aug 2014
New York, August 28, 2014 -- Moody's said today that it does not expect at this time any change in Grupo Papelero Scribe, S.A. de C.V. (Scribe)'s B1 corporate family rating and senior unsecured rating on its rated global notes or stable outlook from the announcement made by Bio Pappel, S.A.B. de C.V. (Pappel - unrated), that Grupo Bio Pappel (GBP - unrated), its main shareholder, reached an agreement to acquire 100% of Corporación Scribe's shares. The transaction is contingent on the approval of the Anti-Trust Commission and Scribe's bondholders and we expect it to close by mid 2015.
Please refer to the Issuer Comment on Moodys.com.
Grupo Papelero Scribe, S.A. de C.V. (Scribe) is Mexico's largest producer of printing and writing paper and notebooks based on sales volume, with MXN 6.0 billion of revenues in the last twelve months ended in June 30, 2014 (LTM). Grupo Bio Pappel, S.A. de C.V. (GBP) is a private company having a controlling interest in Bio Pappel, S.A.B. de C.V. (Pappel) the largest paper manufacturer in Mexico.
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on
www.moodys.com for the most updated credit rating action information and rating history.
Sandra Beltran
Analyst
Corporate Finance Group
Moody's de Mexico S.A. de C.V