Fitch rates Soriana BBB

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

The outlook is stable.

The agency also assigned to the company a national scale long-term rating of AA+(mex), national scale short-term rating of F1+(mex), AA+(mex) rating and F1+(mex) rating on its certificados bursatiles program due May 2018 and AA+(mex) rating on its Ps.10 billion local certificados bursatiles issuance.

The ratings reflect the company’s important market position as the second largest supermarket chain in Mexico, Fitch said, along with its broad customer base supported by a number of store formats and sound customer loyalty program and service strategy.

The ratings also consider the expected leverage increase once the acquisition of Controladora Comercial Mexicana, SAB de CV's 143 stores is completed, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.