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S&P trims Coazucar view to negative
S&P said it revised its outlook on Corporacion Azucarera del Peru SA (Coazucar) to negative from stable and affirmed its B+ corporate credit and issue-level ratings on the company.
“During the first quarter of 2018, Coazucar's operating and financial performance was much lower deviated considerably from our expectations, given a sharp decline in revenue and profitability. As a result, the company posted an EBITDA margin of 11.1% and a debt to EBITDA of 9.8x as of March 31, 2018,” S&P said in a news release.
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