Fitch revises Volcan view to stable

Fitch Ratings said it revised Volcan Compania Minera SAA's outlook to stable from positive and affirmed its long-term foreign- and local-currency issuer default ratings at BB as well as its senior unsecured notes due in 2026 at BB.

“The ratings affirmation and outlook revision to stable reflects Fitch's expectation that the company's leverage profile and liquidity will remain flat with net debt to EBITDA estimated to average 2.1x. The rating case no longer considers an equity raise of $400 million from the company's shareholders and/or proceeds from divestment of assets over the rated horizon. Fitch expects the company's cash flow profile to remain strong, with FFO margins estimated to average about 30% over the rated horizon,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.