The Mexican Minera Autlán Company reported that the risk assessment agency HR Ratings ratified its investment grade credit rating and improved the outlook of the long-term rating due to the restructuring of more than its total debt in November.
The long-term rating was ratified at “HRA”, the sixth step of the 10 of the precious investment grade. The short-term rating was “HR2”, which is only one step below the maximum level (HR1). In addition, Autlán said, “HR Ratings improved the outlook of the long-term rating from negative to stable.”
In a press release to the stock markets, Autlán reported that the improvement in the credit profile “is attributed to the refinancing of the debt that optimized the maturity profile, as well as to the increase in cash flow, highlighting the operational capacity and the solidity in the generation of liquidity.”
Last month, SteelOrbis reported that the Mexican unit of Spanish bank Santander led a $160 million syndicated loan, with which Autlán refinanced 93 percent of its financial debt.