Fitch changes El Puerto de Liverpool view

Fitch Ratings said it affirmed El Puerto de Liverpool SAB de CV's long-term foreign- and local-currency issuer default ratings at BBB+, long-term national rating at AAA(mex) and short-term national rating at F1+(mex).

The outlook was revised to positive from stable.

The agency said the positive outlook reflects Liverpool's consistently achieving Fitch's rating triggers for a positive rating action which includes maintaining strong cash flow generation, consolidated adjusted debt/EBITDAR below 2.5x, a retail-only gross adjusted (for captive finance) leverage consistently below 1.5x and positive free cash flow throughout the business cycle.

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