Moody’s rates Fortaleza notes Ba3

Moody’s Investors Service said it assigned Ba3/A3.mx ratings to the certificados bursatiles Fortaleza Materiales, SAB de CV (formerly Elementia, SAB de CV) plans to sell. The issuer plans to sell up to Ps. 2 billion of securities due 2024.

The agency also revised the outlook to positive from stable and affirmed the company’s Ba3 and A3.mx ratings.

“The positive outlook reflects the strong rebound the company had in 2021 that strongly positions it in its Ba3 global scale rating and increases predictability in free cash flow generation throughout a still uncertain economic environment," said Sandra Beltran, a Moody's vice president and senior analyst in a press release.

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