Comerci Gets Upgrade

Comerci Gets Upgrade

Mexico Corporate & Sovereign Strategy

Moody's has upgraded the rating of Mexico’s Controladora Comercial Mexicana (Comerci) to Ba1 from Ba3, it says. “The upgrade reflects Comerci's much stronger credit metrics following the paydown of debt from proceeds of the sale of its ownership in Costco de Mexico,” the agency says. Comerci has repaid MXP12.72bn of debt and Moody’s expects the retailer to refinance its remaining debt under much better conditions that will ultimately provide the company with financial and operating flexibility t

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