Fitch rates Alpek notes BBB-

Fitch Ratings said it assigned a foreign-currency long-term issuer default rating to Alpek, SAB de CV of BBB-, along with a local-currency long-term issuer default rating of BBB-.

The agency also assigned an expected BBB- rating to a proposed issue of up to $600 million senior unsecured notes with maturity date of up to 2022.

The outlook is stable.

The ratings reflect the company's strong business profile in the petrochemical segment in Mexico and the Americas, supported by leading positions in its different product lines, especially in the polyester chain in North America, Fitch said.

The ratings also consider its low cost structure, geographic location and scale, the agency said, along with its solid customer base and end-market resilience to economic downturns, the agency said.

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