Fitch gives Food Service bonds BB-

Fitch Ratings said it gave a BB- rating to Food Service Project, SA planned €275 million of unsecured notes issuance with a maturity up to five years.

The notes will be guaranteed by its parent company Alsea, SAB de CV, which Fitch rates BB-, and certain subsidiaries.

“The rating of the proposed senior notes reflects the credit profile of Alsea which holds a 76.8% equity stake in Food Service Project,” Fitch said in a press release.

The proceeds will be used to repay Food Service debt.

The outlook is stable.

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