S&P may lower Industrias Unidas

Standard & Poor's said it placed its B+ long-term foreign and local currency corporate credit ratings on Industrias Unidas SA on CreditWatch with negative implications.

The rating actions reflect the continued weakness in the company's liquidity, the agency said.

S&P said the ratings assigned to Industrias Unidas reflect the company's weak liquidity, high leverage, and the competitive pressures faced by its core operations. These factors are partially offset by the company's leading market positions in Mexico and the United States in the manufacture and distribution of copper and copper-alloy products, electrical products, and watt-hour meters; and its export activities.

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