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PERU - Moody\'s forecasts negative outlook for fishmeal group

Rating company Moody\'s Investors Service will maintain the corporate bonds rating of Pesquera Exalmar SAA in the B3 rating, with a negative outlook, according to its latest risk rating report. Given the latest quota and effective catch levels generated as a result of El Niño Phenomenon, the report mentions that the rating incorporates \"a limited operational scale and modest diversification compared to regional peers and other companies in the sector, exposure to volumes and volatile prices in the fishmeal and fish oil markets, sensitivity of flows to the regulatory framework and climatic conditions as well as a pronounced seasonality of cash flow

November 24, 2016

Rating company Moody\'s Investors Service will maintain the corporate bonds rating of Pesquera Exalmar SAA in the B3 rating, with a negative outlook, according to its latest risk rating report.

Given the latest quota and effective catch levels generated as a result of El Niño Phenomenon, the report mentions that the rating incorporates \"a limited operational scale and modest diversification compared to regional peers and other companies in the sector, exposure to volumes and volatile prices in the fishmeal and fish oil markets, sensitivity of flows to the regulatory framework and climatic conditions as well as a pronounced seasonality of cash flow,\" Exalmar reported.

However, the report indicates that this is offset by \"the position of Exalmar as the third largest fishmeal producer, a successful history of operations in that business and the diversification of income for direct human consumption.\"

Source: FIS // Original Article

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