S&P affirms Industrias Unidas

Standard & Poor's said it affirmed its B+ long-term foreign and local currency corporate credit ratings on Industrias Unidas SA de CV.

The outlook is negative.

"The rating affirmation reflects the improved operating and financial performance of IUSA during the past 12 months," said S&P credit analyst Jose Coballasi.

S&P said the ratings reflect the company's tight liquidity and high leverage. 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.

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