S&P rates Industrias Unidas notes B

Standard & Poor's said it assigned its B rating to Industrias Unidas SA de CV's proposed $200 million senior unsecured notes due 2016.

At the same time, S&P said it affirmed its B long-term corporate credit rating on the company.

Upon the successful closing of the proposed issue, the agency said it would revise the outlook on Industrias Unidas to stable from negative.

S&P added that the ratings on Industrias Unidas reflect the inherent cyclicality of the construction industry, commodity price volatility, competitive pressure on core products and markets, low operational margins and high leverage relative to its operating cash flow generation.

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