S&P Lowers Empresas CMPC Rating to BBB- Citing Weaker Earnings and Elevated Leverage
S&P Global Ratings has cut Empresas CMPC S.A.'s credit rating one notch to 'BBB-' from 'BBB', assigning a stable outlook. The decision reflects a decline in S&P-adjusted EBITDA to just under $1.1 billion in 2025 from nearly $1.5 billion in 2024, a leverage peak of 4.5x at year-end 2025, and pressures from softer pulp prices and intensified competit…