S&P assigns Milpo notes BBB-

Standard & Poor's said it assigned its BBB- corporate credit rating to Compania Minera Milpo SAA and assigned its BBB- rating to the company's proposed $400 million notes.

The outlook is stable.

The BBB- ratings on Milpo and its proposed $400 million 10-year notes reflect its bb stand-alone credit profile and two notches of support from its parent company, Votorantim Metais - Cajamarquilla SA, a subsidiary of Brazilian conglomerate Votorantim Participacoes SA (BBB/stable/--), S&P said.

The ratings also reflect Milpo's "fair" business risk profile and "intermediate" financial risk profile, the agency 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.