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Cementos Pacasmayo S.A.A. And Its Approximately $300 Million Senior Unsecured Notes Rated 'BB+', Outlook Stable Jan 13

  • ID: 2386957
  • January 2013
  • Standard & Poors
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  • Cementos Pacasmayo S.A.A.
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Leading, Peru-based cement producer Pacasmayo plans to issue approximately $300 million in senior unsecured notes to fund capital expenditures for its new Piura plant and refinance existing debt. We are assigning our 'BB+' long-term corporate credit rating to the company and a 'BB+' issue-level rating to its proposed senior unsecured notes. The stable outlook reflects our expectation that Pacasmayo's cement operations will continue to perform adequately supported by the growing housing construction sector in Peru. We assume the company will control the pace of its new projects in order to sustain leverage below 3.5x over the next 3 years. MEXICO CITY (Standard & Poor's) Jan. 25, 2013-- Standard & Poor's Ratings Services assigned its 'BB+' long-term corporate credit rating to...

Companies mentioned in this report are:
- Cementos Pacasmayo S.A.A.

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
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- Cementos Pacasmayo S.A.A.

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