Fitch lifts Mexichem view to stable

Fitch Ratings said it affirmed Mexichem, SAB de CV's long-term local- and foreign-currency issuer default ratings at BBB.

The agency also said it affirmed the company's long-term national scale ratings at AA+(mex).

The outlook was revised to stable from negative.

The ratings reflect Mexichem's geographically diversified operating base and strong business position in polyvinyl chloride (PVC) pipes throughout Latin America and Europe, Fitch said.

The ratings also consider the company's high profitability and strong cash flow generation, the agency said.

The ratings are tempered by the company's still large exposure to volatile industries such as infrastructure and construction, Fitch said.

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