Fibria Gets Fitch Upgrade

Fibria Celulose saw its rating increased to BB+ from BB by Fitch. The ratings agency also removed the Brazilian pulp and paper producer off Rating Watch Positive and had assigned it a stable outlook. Fitch had placed Fibria on positive watch in December following its announcement of the sale of a 50% stake in Conpacel for BRL1.5bn. Fitch also assigns a BB+ rating to Fibria’s $750m in 2021 bonds.