Research Update: Camposol Ratings Raised To 'B-' From 'CCC-' Following Full Redemption Of Its Notes Due February 2017; Outlook Positive

Peru-based fresh produce company Camposol paid in full the remaining amount of its senior unsecured notes due Feb. 2, 2017. We're raising our corporate credit and issue-level ratings on Camposol to 'B-' from 'CCC-'. The positive outlook reflects the potential for a further upgrade if Camposol's favorable growth prospects and improving operating performance lead to stronger credit metrics in the next 12 months, reflected in a debt to EBITDA consistently below 3.0x and EBITDA interest coverage of more than 3.0x. On Feb. 9, 2017, S&P Global Ratings raised its corporate credit rating on Camposol S.A. to 'B-' from 'CCC'. The outlook is positive. At the same time, we raised our issue-level rating on the company's $147.5 million senior secured notes

...Peru-based fresh produce company Camposol paid in full the remaining amount of its + senior unsecured notes due Feb. 2, 2017. We're raising our corporate credit and issue-level ratings on Camposol to 'B-' + from '###-'. The positive outlook reflects the potential for a further upgrade if Camposol's + favorable growth prospects and improving operating performance lead to stronger credit metrics in the next 12 months, reflected in a debt to EBITDA consistently below 3.0x and EBITDA interest coverage of more than 3.0x....

Research Update