Moody's moves Minsur outlook to positive

Moody's Investors Service said it changed Minsur SA’s outlook to positive from negative and affirmed its Ba3 corporate family rating and the rating on its senior unsecured notes due 2024.

“The positive outlook reflects the completion of a large expansion project in Mina Justa, which will strengthen Minsur's business profile over the long term and provide a significant uplift in cash generation starting in the second quarter of 2021, while maintaining the company's competitive cost position,” Moody’s said in a press release.

The agency said it sees the Mina Justa operation helping Minsur deliver positive free cash flow by 2022 of about $350 million.

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