Fitch upgrades Embotellador Atic

Fitch Ratings said it upgraded Grupo Embotellador Atic, SA’s long-term foreign and local-currency issuer default ratings to B+ from B and the senior unsecured notes of its Ajecorp BV subsidiary to B+/RR4 from B/RR4.

“The upgrade reflects Atic’s resilient business despite a challenging economic environment, ongoing debt repayment and improved credit profile. The ratings continue to be constrained by the company’s moderate size and several below-average environmental, social and governance (ESG) factors, as well as the refinancing risk associated with the maturity of its 2022 bond,” Fitch said in a press release.

The outlook is stable.

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