Bulletin: Grupo M?xico S.A.B. de C.V. Ratings Unaffected By Outcome Of Elections In Peru Jun 11
- ID: 1814787
- June 2011
- Region: Peru
- Standard & Poors
MEXICO CITY (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that the June 5 victory of left-wing candidate Ollanta Humala in the Peruvian presidential election does not immediately affect our ratings on Grupo M-xico S.A.B. de C.V. (foreign currency: BBB-/Stable/--) and its subsidiaries Americas Mining Corp. (BBB-/Stable/--) and Southern Copper Corp. (BBB-/Stable/--), the latter of which operates two open pits (Toquepala and Cuajone) and one metallurgical complex (Ilo) in Peru. In our view, Mr. Humala's rhetoric moderated during the election as he tried to dispel some of the antimarket perceptions that investors have had since the 2006 elections. He publicly supported maintaining current economic policies, except that he proposed increasing taxes on the mining sector. Mr....
Companies mentioned in this report are: Grupo Mexico, S.A.B. de C.V.,Southern Copper Corp.,Americas Mining Corp.
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