Fitch changes Volcan view to negative

Fitch Ratings said it revised its outlook for Volcan Compania Minera SAA to negative from stable.

“Volcan's negative outlook reflects the company's failure to reduce its high debt balance relative to its cash flow generation through asset sales or other measures during the top of the zinc market in 2017 and 2018 as initially expected,” Fitch said in a press release.

The agency sees zinc prices continuing to fall into 2021.

Fitch affirmed ratings for the company and the $600 million senior notes due 2022 at BBB-.

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