S&P gives Inversiones La Construccion BBB+

S&P said it rated Inversiones La Construccion and its planned $400 million of 10-year senior unsecured notes BBB+.

“The rating on ILC reflects its strong business position thanks to its wide business diversification and stability, leading market positions of its key operating subsidiaries, as well as favorable profitability prospects for 2022-2023. In addition, we expect ILC to maintain adequate capital base. We also observe risks mitigated by the group's wide array of businesses and adequate composition of the investment portfolios,” the agency said in a press release.

The notes’ rating is the same as that on the issuing entity, ILC, because of the notes' seniority, S&P said.

The company will use the proceeds to repay debt.

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