S&P marks down Exalmar

S&P marks down Exalmar

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S&P Global Ratings downgraded Peruvian fishmeal producer Exalmar to B- from B on lower cash flows and "potential commercial risks in the markets where it operates due to COVID-19," it said in a report on Thursday. S&P also put a negative on Exalmar's revised ratings, pointing out that the company may face disruptions in distribution because it gets most of its revenue from exports, particularly to China. Exalmar recorded a drop in EBITDA in 2019 on lower catch volumes and higher-than-exp

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