Fitch changes Elementia view to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed Elementia, SAB de CV's long-term foreign- and local-currency issuer default ratings at BB-. The agency also affirmed the long-term national scale rating at A-(mex).

“The revision of the outlook to stable reflects expectations of solid EBITDA increase in 2021 primarily due to favorable home improvement spending and residential construction, notably in Mexico and the U.S. The cost and expense restructuring implemented by the company, particularly in metals and building systems should also contribute to cash flow generation in all three segments,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.