BigA, you are spot on. U say, I quote:

"Few thoughts on the ratings. First, they are irrelevant. These agencies are using past data to rate a company that is obviously going through a transitional period. The closure of Paris and Texas means that something related to those offices will likely occur. The Gabon VAT and the HRT suit are in motion, as is the strategic review. Anyone holding bonds in this heavily insider owned company knows that. No one needs Fitch or Moodys to tell us this something we already know. 

Second, these agencies don't rate for free. Someone is paying them for a rating and that would suggest interest somewhere in the food chain. Some entity is spending money to have the debt rated and no entity is going to waste money just to see Tuscany's current rating".


In other words, there is a reason that these ratings take place now. ...This is not conspiracy theory....These agencies (Fitch, S&P) work for somebody  who wants to refinance TID but tries to get as good terms as possible......

The weak hands sold of course last Friday after this downgrade announcement, ignoring that FItch and S&P look backwards !!! They do not see the consistent and gradual improvement in TID since early 2013.

They do not see that PBV=0.13  currently !!!!!  

although  EQUITY/DEBT =1 !!!! 

These MYOPIC HUMAN JOKES aka "analysts" never served the retail investor....