Fitch rates Mexichem notes BBB-

Fitch Ratings said it assigned a BBB- rating to Mexichem, SAB de CV's proposed $350 million senior unsecured notes issuance due 2019 and affirmed its issuer default rating at BBB-, local-currency issuer default rating at BBB-, national-scale long-term rating at AA-(mex) and Ps.2.5 billion local certificados bursatiles issuance Mexchem 09 due in 2014 at AA-(mex).

The outlook is stable.

The rating incorporates the assumption that the proceeds will be used to complete a potential acquisition that will be integrated into Mexichem's production chains.

Although the proposed notes will increase Mexichem's total indebtedness, Fitch said it believes the company will be able to absorb and rapidly integrate the expected new operation into its business platform.

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