Fitch revises Elementia to positive

Fitch Ratings said it affirmed Elementia, SAB de CV's long-term foreign and local currency issuer default ratings at BB+ as well as its long-term national scale rating at A+(mex).

The outlook was revised to positive from stable.

Fitch said the revision of the outlook to positive reflects its expectations of further strengthening of Elementia's credit profile given recent debt repayment and equity issuance. It also reflects the potential for the company to increase the cash flow generation of its cement business after it completes the expansion to its Tula, Hidalgo plant.

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