S&P lowers Vocal Compania to BB+

Standard & Poor's said it lowered its ratings on Volcan Compania Minera SAA to BB+ from BBB- and removed them from CreditWatch with negative implications, where they were placed on Nov. 26.

The outlook is stable.

S&P said the downgrade primarily reflects its assessment that modifiers have a neutral impact on Volcan's anchor, which is bb+. The anchor and ratings reflect the company's "fair" business risk profile and "intermediate" financial risk profile.

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