Fitch moves Minsur view to positive

Fitch Ratings said it changed the outlook for Minsur SA to positive from stable and affirmed the BBB-long-term foreign-currency issuer default rating and long-term local-currency IDR. The agency also affirmed the company's $500 million senior unsecured 4.5% notes due 2031 at BBB-.

“Minsur's ratings and positive outlook reflect the company's solid business position as one of the world's largest and lowest-cost integrated producers of tin, copper, and other base metals in both Peru and Brazil. The company has improved its asset base by incorporating copper through its Mina Justa mine in Peru, which commenced operations in 2021 and fostered the company's reserve life,” Fitch said in a press release.

The agency also said it expects Minsur to widen its FFO margins to average about 25% over the outlook horizon.

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