Moody's cuts Vitro view to negative

Moody's Investors Service said it affirmed the B2 senior unsecured debt and corporate family ratings of Vitro, SAB de CV.

The outlook has been changed to negative from stable.

The outlook change reflects an expectation that Vitro's liquidity may continue to tighten over the coming quarters as free cash flow generation remains challenged by high energy costs and intensive capital spending, Moody's said.

The outlook change also considers the company's deterioration of credit metrics, which leaves it with limited room to absorb shocks at the B2 rating level, the agency said. And sales growth could weaken as demand in the flat glass segment deteriorates, Moody's said.

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