S&P: WPE International notes B

Standard & Poor's said it assigned a B rating to WPE International Cooperatief UA's proposed five-year senior unsecured notes.

Parent company Wind Power Energia SA and Wind Power's parent company, Industrias Metalurgicas Pescarmona SAICyF, unconditionally guarantee the notes.

The proceeds will be used to refinance existing debt, the agency said.

The ratings continue to reflect the company's weak business risk profile and aggressive financial risk profile, S&P said.

The ratings also consider its exposure to challenging business conditions in Argentina and still limited cash contribution from its sizable and growing business in Brazil, the agency said.

Partly mitigating these negative factors is the company's focus on hydro- and wind-power generation projects in Latin America, where it has competitive advantages, S&P said.

© 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.