Fitch moves Minsur outlook to stable

Fitch Ratings said it changed Minsur SA’s outlook to stable from negative and affirmed the long-term foreign- and local-currency issuer default ratings BBB-. Fitch also affirmed the BBB- rating on Minsur’s $450 million of 6¼% senior unsecured notes due 2024.

The revision to stable reflects the startup of its copper asset Mina Justa, which improves the company's scale and product diversification. The outlook is further underpinned by a strong copper market that should allow the company to deleverage quickly, Fitch said.

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