Fitch affirms Elementia

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 is stable.

Fitch said the ratings reflect Elementia's strong business profile characterized by geographic and product line diversification, leading market shares in copper and in several of its building systems products, which have high brand recognition.

“Other factors include a well-developed distribution network, stable operating results and the company's shareholders' strength,” the agency said in a news release.

“Factors that limit Elementia's ratings are its history of high or volatile leverage, the cyclicality of the construction industry, and scale relative to competitors.”

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