S&P shifts Unicomer view to stable

S&P said it revised the outlook on Grupo Unicomer Corp. to stable from negative and affirmed its BB- long-term issuer credit rating on the company. The agency also affirmed the BB- issue-level ratings on the company's $350 million of senior unsecured notes due 2024.

“We expect Unicomer's retail sales to continue growing 5%-10% in the next 12 months and forecast a gradual recovery in its captive finance operations, because its credit portfolio shrunk by 20%-25% compared to pre-pandemic levels. Although new coronavirus variants and supply chain disruptions could hamper its operations, we estimate Unicomer will maintain a resilient financial performance and stable credit metrics in 2022 and onward,” S&P said in a press release.

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