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| Brief Excerpt: | ...Latin America metals and mining companies are being pummeled by the impact of the coronavirus pandemic that has led to a global economic recession of unprecedented depth and lockdown measures that have halted some operators. Rating actions have included a two-notch downgrade of Volcan and a change in the Rating Outlook of CAP to Negative from Stable. Additional negative rating actions are likely if lockdown measures curtail production activity beyond May and if economic conditions continue to deteriorate. Fitch updated the 2020, 2021 and 2022 forecasts for 14 Latin America metals and mining companies to reflect the events that have transpired in the past few months. Some key assumptions were that Peruvian underground miners would be fully operational by June 1 and that mining production would not be disrupted in Chile and Brazil. The degree of operational disruption factored into our assumptions for Mexican and Colombian miners varies by mine location and type. We project that the median... |
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| Company(ies) | Samarco Mineracao S.A.
, Vale SA
, Southern Copper Corp
, Grupo Mexico, S. A. B. de C. V.
, Minera Mexico S.A. De C.V.
, Companhia Siderurgica Nacional SA(CSN)
, CAP S.A.
, Grupo Ferroviario Mexicano, S.A. de C.V.
, Corporacion Nacional del Cobre de Chile
, Ferrocarril Mexicano, S.A. de C.V.
, Americas Mining Corporation
, Gerdau S.A.
, Usinas Siderurgicas De Minas Gerais S.A. - USIMINAS
, Molibdenos y Metales S.A.
, Bradespar S.A.
, Gerdau Holdings Inc
, GTL Trade Finance Inc.
, CSN Resources SA
, CSN Islands XII Corp.
, CSN INOVA VENTURES |
| Issuer | Volcan Compania Minera S.A.A. |
| Format: | | PDF |  |
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