S&P: Clisa outlook negative

Standard & Poor's said it revised the outlook on Compañía Latinoamericana de Infraestructura y Servicios SA' B- rating to negative from stable.

The action reflects expectations that a deteriorating business environment in the country coupled with narrow financial flexibility for Argentine entities and pressures on the foreign exchange rate will result in weaker repayment capacity, the agency said.

The rating reflects the company's vulnerable business profile and high leverage, the agency noted.

The company's limited financial flexibility and exposure to currency mismatch risk frame its highly leveraged financial profile, S&P said.

Alleviating these weaknesses somewhat are its good competitive position in its main business segments and its moderate business diversification, the agency said.

For the 12 months ended June, debt-to-EBITDA ratio to 3x.

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