S&P cuts Vitro outlook to negative

Standard & Poor's said it revised its outlook on Vitro SAB de CV to negative from stable.

At the same time, the agency said it affirmed its B long-term corporate credit and senior unsecured ratings on Vitro.

S&P added that the rating action reflects its expectation that Vitro's free operating cash flow generation and key financial ratios will weaken beyond our initial expectations for the year.

The ratings on Vitro are constrained by the company's highly leveraged financial risk profile, its exposure to commodity price volatility and the challenging operating environment its flat-glass business unit faces, the agency said.

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