Sao Paulo, December 24, 2013 -- Moody's: Cencosud announced the termination of the Memorandum of Understanding ("MOU") signed between Cencosud S.A. (Baa3/neg) and Itaú Unibanco Holding S.A. ("Itaú", Baa2/Sta) in June, 2013 to jointly develop the financial retail business in Chile and Argentina, and indicated alternate plans to use its own Banco Paris (Chile) to manage the company's financial services business in Chile by using a special purpose vehicle.
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