S&P Cuts Chile's Iansa, Sees Sugar Risk

S&P Cuts Chile's Iansa, Sees Sugar Risk

Chile

S&P has cut its corporate credit rating on Chilean sugar producer Empresas Iansa to BB minus from BB+ and removed the rating from credit watch, where it was placed with negative implications on November 20. "The downgrade reflects the deterioration in the company's financial profile as a result of weakening conditions in its core sugar business and increased working capital requirements in its juice business. These factors led Iansa to increase its financial debt to $196m as of September 30, 200

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