Fitch affirms Ferromex

Fitch Ratings said it affirmed the foreign currency and local currency issuer default ratings of Grupo Ferroviario Mexicano at BBB and the national-scale and debt ratings of Ferrocarril Mexicano SA de CV (Ferromex) at AA+(mex).

The outlook is stable.

According to the agency, Ferromex's ratings are supported by the strong legal and operational ties with its parent, which owns 100% of Ferromex, and follows Fitch's parent and subsidiary criteria.

The ratings are also supported by the company's leading position within the Mexican railroad transportation sector with a 53% market share of railway load distribution, the agency said.

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