Fitch gives BBB rating to Industrias Penoles

Fitch Ratings said it assigned ratings for the first time to Industrias Penoles SAB de CV. The agency assigned a BBB issuer default rating and BBB long-term currency issuer default rating.

“Penoles’ BBB ratings reflect its strong business profile characterized by its large scale of operations in precious and base metals, diversified revenues and historically low cost of production,” Fitch said in a press release.

The outlook is stable.

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