Fitch affirms El Mazraa

Fitch Ratings said it affirmed El Mazraa's national ratings at long-term BBB(tun) and short-term F3(tun). The outlook remains stable.

The ratings reflect the consolidation of El Mazraa's market position and the positive earnings and free cash flow trends, which contribute to lower debt and leverage, the agency said.

The ratings also reflect the company's exposure to government-monitored retail poultry prices and limited ability to pass on considerable increases in commodity prices to final selling prices, Fitch said.

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