S&P moves Minsur view to stable

S&P said it modified its outlook for Minsur SA to stable from positive and affirmed its BB+ ratings.

“The outlook revision back to stable reflects the inherent sensitivity of Minsur's operations to Peru's political and social instability. In our opinion, the asset concentration in two mining complexes in Peru continues to constrain Minsur's credit quality and hampers the ratings upside potential. Even though Peru's mining industry is well established with world-class assets, it also confronts a long history of conflicts between local communities and some mining companies,” the agency said in a press release.

S&P said it expects Minsur to post debt to EBITDA under 1.5x for the next 12 months.

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