Auna Downgraded To ?CCC+? From ?B? And Placed On CreditWatch Developing On Tight Timing To Complete Refinancing Plan

Auna S.A.A. faces significant short-term debt maturities, which pressure the company´s liquidity position. These maturities consist of $56 million due on April 20, 2023, and $350 million due early October 2023. Despite Auna working on various alternatives to refinance the maturities on its two bridge loans, timing to complete the refinancing plan is taking longer than expected, which in our view increases liquidity risk, given the upcoming maturity dates. On March 13, 2023, S&P Global Ratings lowered its long-term issuer credit and issue-level ratings on Peruvian private health care service provider to 'CCC+' from 'B', and placed them on CreditWatch with developing implications. The CreditWatch developing listing reflects our view that we could raise the ratings if the company successfully

...March 13, 2023 - Auna S.A.A. faces significant short-term debt maturities, which pressure the company¦s liquidity position. These maturities consist of $56 million due on April 20, 2023, and $350 million due early October 2023. - Despite Auna working on various alternatives to refinance the maturities on its two bridge loans, timing to complete the refinancing plan is taking longer than expected, which in our view increases liquidity risk, given the upcoming maturity dates. - On March 13, 2023, S&P Global Ratings lowered its long-term issuer credit and issue-level ratings on Peruvian private health care service provider to '###+' from 'B', and placed them on CreditWatch with developing implications. - The CreditWatch developing listing reflects our view that we could raise the ratings if the company successfully refinances both bridge loan maturities, alleviating pressure on its liquidity position. The CreditWatch listing also reflects a potential further downgrade if Auna fails to do so...

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