S&P: InterCement Brasil view to negative

Standard & Poor’s said it revised the outlook on its BB global scale corporate credit rating on InterCement Brasil SA to negative from positive and affirmed the rating.

The agency also said it lowered the national scale corporate credit rating to brAA- from brAA, reflecting the outlook revision on the global scale rating and weakening position in relation to InterCement’s national scale rated peers.

The ratings on InterCement mirror the ratings on its parent company, Camargo Correa SA, because it considers both entities as a single economic group bearing the same default risk, S&P said.

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