Fitch: Kimberly-Clark de Mexico to stable

Fitch Ratings said it affirmed Kimberly-Clark de Mexico SAB de CV's (KCM) long-term local-currency and foreign-currency issuer default ratings at A and the long-term national scale rating at AAA(mex).

The outlook for the foreign-currency issuer default rating was revised to stable from negative. The outlook for the local-currency issuer default rating and the long-term national scale rating is stable.

Fitch said the outlook revision is based on its assessment of the company's ability to service hard currency debt, as per Fitch's “Rating Non-Financial Corporates Above the Country Ceiling Rating Criteria.”

Last December, the agency revised the foreign-currency issuer default rating outlook to negative following Mexico's sovereign outlook revision to negative from stable. In the event Mexico's sovereign rating and country ceiling are downgraded by one notch, Kimberly-Clark de Mexico’s foreign-currency issuer default rating can be rated one notch above the country ceiling, provided the local-currency issuer default rating remains at A.

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