Fitch affirms Vitro

Fitch Ratings said it affirmed the issuer default ratings and outstanding debt ratings for Vitro, SAB de CV as follows: foreign-currency issuer default rating at B, local-currency issuer default rating at B and senior unsecured notes due in 2012, 2013 and 2017 at B+/RR3.

Fitch said it has also upgraded the following national-scale ratings: national-scale long-term to BBB-(mex) from BB+(mex) and local certificados bursatiles to BBB-(mex) from BB+(mex).

The outlook is stable.

According to the agency, the ratings are based on Vitro's strong business position in the production of glass in Mexico, geographic revenue diversification and hard currency generation.

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