Moody's changes Buenaventura's outlook to negative; affirms Ba2 rating
Rating Action: Moody's changes Buenaventura's outlook to negative; affirms Ba2 rating. Global Credit Research- 14 Feb 2020. New York, February 14, 2020-- Moody's Investors Service has today changed the outlook on Compañia de Minas Buenaventura S.A.A.' s rating to negative from positive and affirmed its corporate family rating at Ba2, reflecting the company's weak operating results in 2019 and Moody's expectations that credit metrics will remain soft in the next 12 to 18 months.Compania de Minas Buenaventura is a precious metals mining group based in Peru. Co. is engaged in the exploration, mining, concentration and processing of gold and silver, either as concentrates or dorA(c) bars, and other metals such as lead, zinc and copper as concentrates that Co. distributes and sells locally and internationally. Co. also owns an electric power transmission company, a hydroelectric plant, a processing plant and an engineering services consulting company and non-controlling interests in several other mining companies.
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