S&P ups Empresas ICA view to positive

Standard & Poor's said it revised the outlook on Empresas ICA SAB de CV to positive from stable. The agency also said it affirmed its BB- long-term corporate credit rating and mxBBB+ national scale rating.

The outlook revision reflects the company's adequate operating performance as demonstrated by its current construction backlog, S&P said.

The ratings reflect the company's aggressive financial profile, the inherent cyclicality of the construction industry in Mexico and its dependence on Mexican government infrastructure spending to sustain its backlog, the agency said.

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