Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for ENCE Energia y Celulosa, SA > News item |
S&P: ENCE Energia to positive
S&P said it revised the outlook on ENCE Energia y Celulosa SA to positive from stable.
The agency also said it affirmed the company’s BB- corporate credit rating.
S&P also said it affirmed the BB- rating on the company's €250 million senior unsecured debt, in line with the corporate credit rating.
The recovery rating on the senior unsecured debt remains at 4, indicating 30% to 50% expected default recovery.
The outlook revision reflects the potential for an upgrade over the next 12 months if ENCE continues to demonstrate strong profitability and positive free cash flow, which could result in low debt leverage ratios despite an expectation of lower pulp prices, S&P said.
© 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.