OREANDA-NEWS. Fitch Ratings has downgraded General Shopping Brasil S.A.'s (GSB) Issuer Default Ratings (IDRs) to 'C' from 'CC', and its USD250 million perpetual notes to 'C/RR4' from 'CCC/RR2'. Fitch has also affirmed GSB's USD150 million subordinated perpetual notes at 'C/RR5'.