Moody’s upgrade reflects company’s increased liquidity
Camposol has announced that Moody’s Ratings has upgraded its credit rating. The credit score of its 6 per cent Unsecured Senior Notes for US$350m, maturing in 2027, has gone from Caa1 to B3. The outlook has been changed from negative to stable.
Camposol said the improvement reflects increased liquidity, improved credit metrics, and reduced short-term debt refinancing risk, as well the company’s enhanced operational performance, cost control, commercial execution, and liquidity management.
Ricardo Naranjo, Interim CEO of Camposol, commented: “This improvement in our credit rating is the result of the significant efforts we have made over the past year to enhance our company’s performance. Our commitment to efficient commercial execution and solid financial management is the foundation of our business strategy”.
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