Peruvian agro-industrial producer and exporter Camposol reported weaker-than-expected operating and financial performance, which has led to a deterioration of its credit metrics for the 12 months ended September 2015. Its credit metrics are in line with our "highly leveraged" financial risk profile assessment. We're lowering our corporate credit and issue-level ratings on Camposol to 'B-' from 'B'. The negative outlook reflects Camposol?s increased refinancing risk associated with its $200 million senior unsecured notes maturing Feb. 2, 2017, under more challenging operating conditions. On Nov. 18, 2015, Standard&Poor's Ratings Services lowered its long-term corporate credit and issue-level ratings on Camposol S.A. to 'B-' from 'B'. The outlook is negative. The downgrade reflects Camposol's weaker-than-expected operating and financial performance during
