Bulletin: Camposol S.A. Ratings Not Immediately Affected By IPO Filing

MEXICO CITY (S&P Global Ratings) Nov. 17, 2017--S&P Global Ratings said today that its ratings and outlook on Peru-based fresh produce company Camposol S.A.(B-/Positive/--) are not immediately affected by the company's initial public offering (IPO) filing of up to $345 million. If the offering materializes, Camposol plans to use the proceeds to fund growth opportunities and improve its liquidity. In our view, these initiatives could bolster the company's credit profile in the intermediate term, which we will closely monitor. On Feb. 9, 2017, we revised our outlook on Camposol to positive, reflecting at the time the potential for an upgrade in the next 12 months if the company's favorable growth prospects and improving operating performance led to stronger credit metrics.

...MEXICO CITY (S&P Global Ratings) Nov. 17, 2017--S&P Global Ratings said today that its ratings and outlook on Peru-based fresh produce company Camposol S.A.(B-/Positive/--) are not immediately affected by the company's initial public offering (IPO) filing of up to $345 million. If the offering materializes, Camposol plans to use the proceeds to fund growth opportunities and improve its liquidity. In our view, these initiatives could bolster the company's credit profile in the intermediate term, which we will closely monitor. On Feb. 9, 2017, we revised our outlook on Camposol to positive, reflecting at the time the potential for an upgrade in the next 12 months if the company's favorable growth prospects and improving operating performance led to stronger credit metrics. Under such a scenario, debt to EBITDA would consistently be less than 3.0x and EBITDA interest coverage more than 3.0x. Only a rating committee may determine a rating action and this report does not constitute a rating...

Bulletin