S&P lowers Andino Investment

Standard & Poor’s said it lowered the corporate credit rating on Andino Investment Holding SAA to B from B+.

The outlook is stable.

“The downgrade reflects the company’s weaker-than-expected operating performance, which resulted in a deterioration in its credit metrics,” said S&P credit analyst Marcus Fernandes in a news release.

This was mainly due to unfavorable external economic conditions, including weaker terms of trade, which slowed Peruvian economic growth.

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