![]() | Hudson La Force III Sr. Vice President & Chief Financial Officer T +1 410.531.8730 Hudson.la.force@grace.com W. R. Grace & Co. 7500 Grace Drive Columbia, MD 21044 |
• | Identify the specific developments that occurred during the third quarter of 2015 that resulted in you changing the exchange rate you use for Venezuela; and |
• | Explain why the impairment charge you recorded at September 30, 2015 was 68% higher than the monetary and non-monetary exposure your disclosures indicated you had at June 30, 2015, especially in light of the difficult financial conditions that have existed in Venezuela. |
• | We are responsible for the adequacy and accuracy of the disclosure in our filings; |
• | Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and |
• | We may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. |
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