Quality | 2010.01.22
Fitch Downgrades Emblem Finance Company No. 2 Limited
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded the notes issued by Emblem Finance Company No.2 Limited (Emblem No. 2) following the downgrade of the reference entity. A detailed list of the rating action follows at the end of this press release. The rating action reflects Votorantim Participacoes S.A.\'s (VPAR) current Issuer Default Rating (IDR) of \'BBB-\' with a Stable Outlook. The rating also considers the credit quality of the HSBC Holdings Plc subordinated notes as the eligible inves
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