STXNEWS LATAM-S&P boosts ratings for Brazil's Hypermarcas to BB

Tue May 13, 2014 8:41pm EDT

Standard & Poor's on Tuesday raised its corporate debt rating for Hypermarcas, the Brazilian drugmaker and consumer goods producer, from to "BB-" to "BB" on the global scale.

The outlook for the rating, S&P said in a statement, is stable. The upgrade reflects improved profitability and operational efficiency at the company, as well as reduced exposure to exchange rate fluctuations, S&P said.

(Reporting by Alberto Alerigi; Editing by Lisa Shumaker)

FILED UNDER: