Fitch removes Findep from watch

Fitch Ratings said it affirmed Financiera Independencia, SAB de CV, Sofom, ENR's (Findep) long-term B+ local- and foreign-currency issuer default ratings, senior unsecured long-term debt rating at B+/RR4, removed the ratings from rating watch negative and assigned a stable outlook.

The agency said it withdrew the rating of Findep's 8% senior notes due to their cash redemption.

The rating affirmation and RWN removal reflect Findep formalizing a Ps. 1.4 billion secured credit line and the repayment in full on Friday of its 8% senior notes due July 2024, Fitch said.

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