Fitch rates El Puerto de Liverpool notes BBB+

Fitch Ratings said it assigned a BBB+ rating to El Puerto de Liverpool, SAB de CV's $500 million senior unsecured notes due 2026.

The notes will be guaranteed by its subsidiary Distribuidora Liverpool, SA de CV and will rank pari passu with all of the company’s and subsidiaries’ unsecured and unsubordinated debt, Fitch said.

The proceeds will be used for general corporate purposes, including capital expenditures and a portion of the purchase price of Liverpool's recent acquisitions, the agency said.

The company’s recent acquisitions will strengthen its business position by expanding its target market and geographic footprint, positioning it as a relevant player within the Latin American region, Fitch said.

The company has a long-term foreign- and local-currency issuer default ratings of BBB+, long-term national rating of AAA(mex), short-term national rating of F1+(mex), BBB+ rating on its $300 million senior notes due 2024, AAA(mex) rating on its long-term certificados bursatiles issuances and F1+(mex) rating on its short-term certificados bursatiles program for up to Ps. 5 billion.

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