Fitch raises GCC outlook to positive

Fitch Ratings said it revised its outlook for GCC SAB de CV to positive from stable and affirmed the BBB- ratings on the issuer and its $500 million of senior notes due 2032.

“The positive outlook reflects Fitch's expectations that GCC will continue to generate resilient FCF generation in the next 18 months-24 months, which should help to fund its inorganic growth strategy. GCC's strategy to enhance its business position within its key markets, while maintaining its solid capital structure is expected to strengthen its position within the BBB rating category.

“Given its net cash position, GCC has sufficient rating headroom to support midsize acquisitions while still maintaining net debt/EBITDA below 2x,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.