S&P upgrades Sanluis Rassini

Standard & Poor's said it raised the long-term corporate credit rating on Sanluis Rassini SA de CV to B+ from B.

The outlook is stable.

The upgrade reflects the company's improved credit metrics and the gradual reduction of debt supported by the company's effective financial management, said Luis Manuel Martinez, an S&P analyst.

It also reflects the company's positive and sustainable medium-term growth prospects amid more favorable industry fundamentals, the agency said, and new contracts that should lead to stable revenue growth and margins.

The ratings consider expectations that the company will increase cash flow generation and reduce its leverage metrics in the next 12 to 18 months, S&P added.

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