|
|
Article: Fitch Rates Mabe's Proposed Sr. Notes 'BBB-'.
- Article from:
- Business Wire
- Article date:
- October 14, 2009
CopyrightCOPYRIGHT 2009 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)
|
MONTERREY, Mexico -- Fitch Ratings has assigned a 'BBB-' rating to Controladora Mabe, S.A. de C.V.'s (Mabe) proposed US$300 million senior unsecured note issuance due 2019. Proceeds from the proposed issuance will be applied to refinance debt.
Fitch currently rates Mabe as follows:
-- Issuer Default Rating (IDR) 'BBB-';
-- Local currency IDR 'BBB-';
-- US$200 million senior notes due 2015 'BBB-'.
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 ...