S&P rates Camargo Corrêa BB

Standard & Poor's said it assigned its BB long-term corporate credit ratings to Camargo Corrêa SA (CCSA).

The outlook is stable.

The agency said it assigned its BB senior unsecured debt rating to the forthcoming $250 million notes to be issued by CCSA Finance Ltd., a wholly owned subsidiary of CCSA.

The ratings on CCSA reflect the combined credit quality of Camargo Corrêa's diverse business portfolio and they reflect the group's aggressive growth strategy based on organic capacity expansion and acquisitions and significant gross financial leverage on some of its key subsidiaries, the agency said.

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