Fitch gives Unifin notes BB

Fitch Ratings said it assigned Unifin Financiera, SAB de CV Sofom, ENR's upcoming eight- to 10-year senior unsecured notes for up to $400 million an expected long-term rating of BB(EXP).

The notes will be issued at a fixed rate with semiannual interest payments. The principal will be paid at maturity.

Net proceeds will be used to fund organic growth.

Fitch said there will not be increased exposure to market risk as a result of this transaction, as the company will hedge both FX rate risk and interest rate risk with cross-currency swaps for both the principal and interest payments.

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