Fitch upgrades Camposol

Fitch Ratings said it upgraded to B+ from B the long-term foreign and local currency issuer default ratings of Camposol Holding plc and Camposol SA.

In addition, Fitch upgraded Camposol's senior secured notes to B+/RR4 from B/RR4.

Camposol's recovery rating is capped at RR4 due to the location of the group's operations, Fitch said.

“The upgrade reflects Camposol's strong operating performance and robust credit metrics,” the agency said in a news release.

“The rating upgrades also reflects Camposol's increased operational scale, more cash generative business profile due to a better mix of products and the expansion of the avocado, blueberry and shrimp businesses.”

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