S&P rates Techo, Pahuichi B-

S&P said it assigned B- global scale corporate credit ratings to Techo SA, Pahuichi SRL and Techo En El Urubo SRL.

The outlook on the three entities is stable.

The agency said the ratings reflect the companies' small scale compared with international peers, and the fact that the companies are concentrated in the city of Santa Cruz de la Sierra, despite their position as major players in the real estate industry in Bolivia.

Although the three entities are considered part of Grupo Lafuente, have the same ownership structure and publish combined financial statements, S&P does not treat them as a group because there is no legal and contractual basis that would allow them to be viewed as one entity, the agency explained.

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