S&P cuts Unacem view to negative

S&P said it revised its outlook on Union Andina de Cementos SAA y Subsidiarias (Unacem) to negative from stable and affirmed the BB+ corporate credit and issue-level ratings on Unacem.

S&P said the outlook revision reflects Unacem’s weaker operating and financial performance than S&P expected during the first two quarters of 2016 and the agency’s view that improvement could take longer than currently anticipated if activity in the Peruvian and Ecuadorian construction sector does not recover as anticipated in the next six to 12 months.

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