S&P assigns InRetail notes BB+

Standard & Poor's said it assigned its BB+ corporate credit rating on InRetail Consumer.

In addition, the agency assigned a BB+ rating to its proposed $300 million long-term senior unsecured notes.

The outlook is positive.

S&P said the ratings on InRetail Consumer reflect its solid market position in the highly fragmented retail industry in Peru (whose GDP growth will continue outperforming Latin America's, although with less dynamism compared with the region overall), improved operating efficiencies translated into EBITDA margins above 8% and the agency’s expectation that it will continue funding its expansion program with own cash flow generation.

The ratings also incorporate S&P’s view that the company will continue posting negative discretionary cash flow and its assessment of the company's "adequate" liquidity.

© 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.