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Article: Fitch Affirms Mabe's IDR at 'BBB-'; Removes from Watch Negative; Outlook Negative.
- Article from:
- Business Wire
- Article date:
- July 27, 2009
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MONTERREY, Mexico -- Fitch Ratings has taken the following rating actions for Controladora Mabe, S.A. de C.V. (Mabe):
--Issuer Default Rating (IDR) affirmed at 'BBB-';
--Local currency IDR affirmed at 'BBB-';
--US$200 million senior notes due 2015 affirmed at 'BBB-'.
The ratings have been removed from Rating Watch Negative. The Rating Outlook is Negative.
The ratings for Mabe are supported by its strong business position as Mexico's leading manufacturer and exporter of white-line home appliances, the long-term relationship with General Electric (GE), evidenced by its 48.4% equity stake in Mabe and its joint venture for the ...