Fitch Raises Mexichem

Fitch Raises Mexichem

Mexico Corporate & Sovereign Strategy

Fitch has upgraded Mexichem's rating to BBB from BBB minus, it says, based on a strong business and financial profile. The Mexican petrochemical producer has doubled in size since 2009, through organic growth and acquisitions. The agency calls Mexichem's credit metrics “strong,” and expects net leverage will remain within the management’s 2.0x target. “Mexichem's financial profile is underpinned by its recurring positive free cash flow and its strong business profile as a leading vertically inte

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