Pacasmayo Assigned Investment Grade

Pacasmayo Assigned Investment Grade

Peru Corporate & Sovereign Strategy

Fitch has rated Cementos Pacasmayo BBB minus, it says. The company benefits from the Peruvian cement industry’s optimistic future growth, as well as from operating in the country’s north with fewer competitors. Project costs could mean negative free cash flow in 2013 and 2014, but Fitch says it sees Pacasmayo trending positive in its cement operations and project funding. Improvements to cash flow generation, leverage and liquidity could lead to positive rating action. Changes to broader macroec

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