Moody's confirms Southern Copper, Minera

Moody's Investors Service said it confirmed the Baa3 senior unsecured ratings of Southern Copper Corp. and the Baa3 senior unsecured ratings of its subsidiary Minera Mexico SA de CV.

The outlook is stable.

This action concludes the review initiated on April 3, Moody's said, adding that it views Minera's ratings as closely correlated to its parent, particularly as Southern Copper intends for the majority of new debt to be raised at the parent level and treasury operations are centralized.

Changes in financial policy with respect to Minera Mexico and its debt or liquidity profile or as a result of legal or regulatory changes in Mexico will continue to be factors in evaluating the appropriateness of Minera's rating, the agency added.

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