S&P rates Elementia BB+

Standard & Poor’s said it assigned a BB+ corporate credit rating to Elementia SA.

The outlook is stable.

The ratings reflect the company’s fair business risk profile and significant financial risk profile, S&P said.

The agency said it incorporated a one-notch lift to Elementia’s BB anchor due to the company’s strategically important subsidiary status to Grupo Kaluz.

The ratings reflect the company’s portfolio diversification and some integrated operating efficiencies, S&P said.

The company’s cost structure – with pass-through of raw materials cost increases – supports its profitability measures, the agency said.

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