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S&P assigns Los Portales notes B+
Standard & Poor's said it assigned its B+ corporate credit rating to Los Portales SA.
The outlook is stable.
The agency is also assigning a B+ issue-level rating to the company's proposed $200 million seven-year bullet senior unsecured notes.
Peru's strong economic fundamentals and its unique housing industry characteristics (specifically its self-home-construction) and relatively low banking penetration compared to other countries in Latin America reflect Portales' "weak" business risk profile, in S&P's view.
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