MEXICO CITY (Standard&Poor's) July 1, 2015--Standard&Poor's Ratings Services said today that its ratings and stable outlook on Nemak S.A.B. de C.V. are not affected in the short term following the announcement that Nemak has placed an IPO for a total amount of MXN 10.752 billion, which could be increased up to MXN 12.364 billion with the overallotment option. The proceeds will be used for expansion projects and distribution to its existing shareholders. Our ratings on Nemak already incorporated the IPO and expansion projects. In our opinion the IPO will strengthen the issuer's expansion strategy and limit the use of additional debt.
