Fitch revises Hudbay view to positive

Fitch has affirmed Hudbay Minerals Inc. and Hudbay Peru SAC at B+ and revised the outlook to positive from stable.

“The positive outlook reflects the significant increase in gold production beginning in 2021 and expectations for lower capex, following a period of growth capex associated with improving the production profile, in addition to the improved copper price environment, which results in Fitch's expectation for significantly improved FCF generation,” the agency said in a press release.

Fitch also affirmed the first-lien senior secured revolving credit facilities at BB+/RR1 and affirmed the unsecured notes at B+/RR4.

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