S&P revises Inversiones Atlantida view to negative

S&P said it revised its outlook on Inversiones Atlantida SA (Invatlan) to negative from stable. In addition, the agency affirmed the long-term B+ issuer credit rating on the company and the B+ issue-level rating on Invatlan's senior unsecured bonds.

“The outlook revision stems mainly from an increase in the group's double leverage ratio consistently above 120% in the past 12 months. In our view, the rise in this ratio reflects a more vulnerable credit risk profile due to a higher dependence on liquidity upstream from its subsidiaries to meet the group's financial obligations and to finance its diversification plan,” S&P said in a press release.

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