Moody’s ups Southern Copper to stable

Moody's Investors Service said it affirmed the Baa2 senior unsecured rating of the notes issued by Southern Copper Corp. and Minera Mexico, SA de CV.

The outlooks were changed to stable from negative.

Moody’s said the outlook change reflects the improvements in Southern Copper’s credit metrics over the last few quarters and the agency’s belief those will be sustained at adequate levels during the execution of its capex plan. Moody’s also expects that the company will benefit from the conclusion of investments carried out in the past years, and that it will continue investing for growth while maintaining costs in the first quartile of the industry.

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