Fitch revises Minsur to negative

Fitch Ratings said it affirmed the long-term foreign-currency issuer default rating and long-term local-currency issuer default rating of Minsur SA at BBB-.

The outlook was revised to negative from stable.

The agency also affirmed the company's $450 million senior unsecured 6¼% notes due 2024 at BBB-.

Fitch said the negative outlook reflects its view that Minsur's credit profile will be stressed for 18 to 24 months as the company invests in its transformational copper project, Mina Justa, which is expected to start commercial production in 2021.

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