OREANDA-NEWS. December 16, 2015. Fitch Ratings has withdrawn Virgolino de Oliveira S.A. Acucar e Alcool's (GVO) 'RD' foreign and local currency Issuer Default Ratings (IDRs) and the company's 'RD(bra)' national scale long-term rating. Fitch has also withdrawn the ratings on Virgolino Finance's associated debts. Virgolino Finance is a fully-owned subsidiary of GVO and is the issuer of GVO's notes.

KEY RATING DRIVERS

Fitch has withdrawn the ratings due to lack of updated information following the company's financial distress.

RATING SENSITIVITIES

Fitch will no longer provide ratings or analytical coverage for the corporate and debt instruments.

FULL LIST OF RATING ACTIONS

Fitch has withdrawn the following ratings

Virgolino de Oliveira S.A. Acucar e Alcool
--Foreign and local currency IDRs at 'RD';
--Long term national scale rating at RD(bra).

Virgolino de Oliveira Finance S/A
--USD300 million senior unsecured notes due 2022 at 'C/RR4'
--USD135 million senior secured notes due 2020 at 'C/RR4'