S&P: Empresas ICA on positive watch

Standard & Poor's said it placed its B- corporate credit rating on Empresas ICA SA de CV on CreditWatch with positive implications.

S&P said the rating action reflects the recent approval by ICA's shareholders of a $230 million capital increase.

The CreditWatch listing will be resolved upon the completion of a review of ICA's operating and financial prospects, the agency said. Improvements in liquidity, additions to backlog and recent financial performance are among the positive factors to be considered by S&P in its upcoming review.

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