S&P rates Andino bonds B+

Standard & Poor's said it assigned its B+ rating to Andino Investment Holding SAA and its proposed $130 million senior bond.

The outlook is stable.

The rating on the company reflects its "aggressive" financial risk profile and "weak" business risk profile, S&P said.

Andino Investment's leading market position and operating efficiency, and positive growth fundamentals for the Peruvian economy, only partly mitigate the company's exposure to volatile profitability due to its operations' small scale that also limits the company's capacity to withstand unexpected events, S&P said.

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