S&P gives Industrias Peņoles mxAA+

Standard & Poor's said it assigned an mxAA+ national scale corporate rating to Industrias Peņoles SAB de CV, and affirmed its BBB- corporate credit rating.

The outlook is stable.

The ratings reflect the company's satisfactory business position, as evidenced by its low cost structure, good operating efficiency and vertical integration, S&P said.

The ratings also reflect an intermediate financial risk profile and the company's position as the largest refined silver producer in the world and leading producer of refined gold and lead in Latin America, the agency said.

These factors are offset by its limited, but improving geographic and mine diversification, aggressive dividend policy and operation amid the commodity price volatility characteristic of the mining industry, S&P added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.