Fitch gives Fibra Uno notes BBB

Fitch Ratings said it assigned a BBB rating to Fideicomiso Fibra Uno's proposed senior notes.

The final amount and tenor of the proposed senior notes will depend on market conditions, Fitch said.

Proceeds will be used for general corporate purposes, which may include primarily debt substitution extending the company's debt maturity profile to around 10 to 12 years from 8.7 years.

Fitch currently rates Fibra Uno's long-term foreign and local currency issuer default ratings BBB.

The outlook is stable.

“The ratings reflect Funo's solid market position as the leading and largest Fibra (REIT) in Mexico,” the agency said in a news release.

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