S&P ups Empresas Copec view to stable

Standard & Poor's said it revised its outlook on Empresas Copec SA to stable from negative and affirmed its BBB+ corporate credit rating on the company.

"The revised outlook reflects our opinion that E-Copec's credit quality is driven by the quality of its asset portfolio, its liquidity position, and its conservative approach toward leverage (on individual basis) and new investments," said S&P credit analyst Diego Ocampo in a news release.

Even though the credit quality of the company's largest operating asset, Celulosa Arauco y Constitucion SA (BBB/stable/--), has deteriorated, S&P said this should not materially affect E-Copec's credit quality.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.