Fitch could lower Mabe

Fitch Ratings said it placed Controladora Mabe, SA de CV's foreign- and local-currency issuer default ratings of BBB- on Rating Watch negative as well as Mabe's $200 million senior notes due 2015.

The watch reflects the heightened event risks and associated uncertainty following the recent announcement from General Electric Co. that it was reviewing strategic options for its appliances business, which include a strategic partnership or joint venture, spinoff or sale of the business, according to the agency.

Mabe's ratings reflect the long business relationship with GE since 1987, Fitch noted.

Ratings also reflect the company's strong business position as Mexico's leading manufacturer and exporter of white-line home appliances, the agency said.

Ratings also reflect Mabe's geographic and product diversification, strong proprietary and licensed brands, and challenges facing the industry, Fitch said.

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