S&P rates Paranapanema B+

Standard & Poor's said it assigned a B+ global scale and brBBB national scale corporate credit ratings on Paranapanema SA.

The outlook is stable.

The company has a weak business risk profile, reflecting the company's limited scale, scope and diversification, along with its exposure to a cyclical and capital-intensive industry, S&P said.

Paranapanema has geographical concentration as it generates 60% to 70% of its revenues from the Brazilian market, the agency said.

The offsetting factors are the company's strategic assets with the only smelter plant in Brazil, S&P said, and its leading position in the domestic refined copper segment.

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