Fitch rates Docuformas notes BB-

Fitch Ratings said it assigned Docuformas SAPI de CV's upcoming $300 million five-year senior notes an expected long-term rating of BB-.

The net proceeds from the offering, together with cash on hand, will be used to pay a tender offer of the 2022 senior notes, refinance existing liabilities and for general corporate purposes.

The agency said the rating assigned to the notes is at the same level as Docuformas' long-term issuer default ratings of BB- as the likelihood of default of the notes is the same as the issuer default ratings.

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