Fitch rates Minera Mexico’s notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Minera Mexico SA de CV’ s proposed senior notes.

Minera is a wholly owned subsidiary of Southern Copper Corp. SCC will not guarantee the notes.

Proceeds will be used for the company’s $413 million Buenavista Zinc project, its $159 million Pilares project, $258 million El Pilar project and other general corporate purposes.

At the same time, Fitch assigned a BBB+ rating to Minera with a stable outlook.

“The ratings reflect Fitch’s application of its parent-subsidiary linkage criteria, in addition to the subsidiary's strong standalone, low-cost operations as SCC's operations in Mexico,” Fitch said in a press release.

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