Fitch assigns Elementia, notes BB+

Fitch Ratings said it has assigned Elementia, SA a long-term issuer default rating of BB+ and a local currency issuer default rating of BB+.

The outlook is stable.

Fitch said it also assigned Elementia's proposed $400 million senior notes issuance a rating of BB+.

Elementia's ratings reflect the company's business line diversification, leading market positions in the countries where it has a presence supported by highly recognized brands and a well developed distribution network and a positive pro forma cash generation, the agency added.

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