Iansa Earns Upgrade

Chilean sugar producer Empresas Iansa has earned an upgrade from ratings agency Standard & Poor’s on the basis of improved financials, following debt reduction and improved cash generation by the company. S&P raised its ratings on Iansa to BB+ from BB, with positive outlook. It said the ratings were “also underpinned by the company’s strong competitive position as the only sugar producer in Chile, and IANSA’s being one of the top 10 low-cost sugar producers worldwide and the lowest-cost producer of sugar from beets.”