Credit rating agency Fitch has increased the ratings of Minera Autlan’s notes, also known as certificados bursatiles (CBs) or Mexican notes.
The company’s short and long term notes or CBs were upgraded to F2(mex) from F3(mex), the credit rating agency said.
The company’s improved short and long term, revolving notes ratings are due to both the better operational and financial profile of the company, Fitch said. These are reflected in increased profitability, reduced leverage, which is the amount of debt used to finance assets.
Fitch also said increased manganese and ferroalloy prices have also helped the company.