S&P gives Durango, notes B+

Standard & Poor's said it assigned its B+ long-term corporate credit rating to Corporacion Durango SAB.

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The agency said it also assigned its B+ senior unsecured debt rating to the company's proposed $520 million fixed-rate notes.

The outlook is stable.

The rating reflects Durango's high debt levels, a moderately aggressive financial policy and the natural risk associated with the paper industry's cyclicality while these risks are partially offset by the company's leading position in the containerboard and packaging industries and its vertical integration in Mexico, the agency added.

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