CHICAGO & SAO PAULO--(BUSINESS WIRE)--Fitch Ratings has downgraded Cimento Tupi S.A.'s (Tupi) foreign and local currency Issuer Default Ratings (IDRs) to 'RD' from 'C' and its national scale rating to 'RD (bra)' from 'C (bra)'. Fitch has also affirmed Tupi's senior notes at 'C/RR4'. KEY RATING DRIVERS The downgrades follow the expiration of the 30-day grace period after the non-payment of the company's interest payments on its USD185 million 2018 senior unsecured notes. Payment of the bond was
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