Fitch alters Unicomer view to stable

Fitch Ratings said it revised the outlook for Grupo Unicomer Corp. to stable from positive and affirmed the BB- ratings on the issuer and its $350 million of senior notes due 2024.

“The outlook revision to stable reflects Fitch's view that a rating upgrade is unlikely within the next 12 months, as the company's financial profile will temporarily weaken should the CrediScotia Financiera (CSF) acquisition materializes. In addition, Unicomer has some operational challenges to face amid a weakened macroeconomic environment in the Latin American region. These are related to some countries' operating performance and inventory management due to supply chain interruptions, similar to other retailers in the region,” the agency said in a press release.

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