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Article: Fitch Affirms Mabe's IDR at 'BBB-'; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- April 29, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MONTERREY, Mexico -- Fitch Ratings has affirmed the ratings of Controladora Mabe, S.A. de C.V. (Mabe) as follows:
--Local currency Issuer Default Rating (IDR) 'BBB-',
--Foreign currency IDR 'BBB-',
--$200 million senior notes due 2015 'BBB-'.
The Rating Outlook is Stable.
The rating actions reflect Mabe's strong business position as Mexico's leading manufacturer and exporter of white-line home appliances, and its joint venture and relationship with General Electric (GE) for the supply of gas and electric ranges and refrigerators for the U.S. market. The ratings also reflect Mabe's geographic and product diversification, strong ...