Empresas Copec S A : Fitch Ratings and S&P ratify "BBB" international rating for Empresas Copec
August 29, 2023
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Both agencies maintained the Empresas Copec' stable outlook, highlighting the Company's healthy credit profile.
Fitch Ratings highlighted its strong and diversified portfolio, along with the solid commercial position of its main subsidiaries, such as ARAUCO, Copec and Abastible. Meanwhile, Standard & Poor's projected that MAPA's production volume would offset lower prices in the pulp market while highlighting the strengths of the rest of the group's operations.
"These positive ratings recognize the Company's consistency in its financial philosophy, and allow us to move forward with confidence in our growth and sustainable profits objectives," said Rodrigo Huidobro, Chief Financial Officer of Empresas Copec, regarding the rating.
EC - Empresas Copec SA published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2023 21:58:06 UTC.
Empresas COPEC SA is a Chile-based holding company engaged, through its subsidiaries, in the energy and natural resources sectors. The Companyâs operations are structured into four business sectors: the Forestry Business. Fuels Business, Fishing Business and Other Investments. The Company operates in the forestry business through its affiliate Arauco, which produces wood pulp, panel and sawn lumber. The Companyâs fuel business is focused on the liquefied fuels, lubricants, and liquefied petroleum gas and natural gas markets. The Company operates in the fishing business through its affiliate Pesquera Iquique - Guanaye, which produces fishmeal, fish oil, canned and frozen seafood for human consumption. The Company has productive platforms in Argentina, Brazil, Canada, Colombia, the United States and Uruguay. On April 11, 2014, the Company with Inversiones Ultraterra Ltd sold their total stake in Empresa Electrica Guacolda to AES Gener.