News Column

Fitch Withdraws Rating on Regal Forest Holding Co. Ltd.'s Proposed Sr. Notes

July 31, 2014



NEW YORK & MONTERREY, Mexico--(BUSINESS WIRE)-- Fitch Ratings has withdrawn the 'BB-(exp)' rating on Regal Forest Holding Co. Ltd's (RFH) USD300 million senior notes issuance.

The withdrawal of the rating follows unfavorable market conditions to sell the notes. As there is no set time frame for resuming the issuance process, no rating is required at this time. Fitch will provide investors with further information on the notes if and when the issuer resumes the sale process.

Fitch currently rates RFH as follows:

--Local currency Issuer Default Rating (IDR) 'BB-';

--Foreign currency IDR 'BB-'.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology', May 28, 2014.

Applicable Criteria and Related Research:

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=843377

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Primary Analyst

Jose Vertiz

Director

+1 212-908-0641

Fitch Ratings, Inc.

33 Whitehall St.,

New York, NY 10004

or

Secondary Analyst

Indalecio Riojas

Associate Director

+52-81-8399-9100

or

Committee Chairperson

Alberto Moreno

Senior Director

+52-81-8399-9100

or

Media Relations, New York

Elizabeth Fogerty, +1 212-908-0526

elizabeth.fogerty@fitchratings.com

Source: Fitch Ratings


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