Fitch affirms Alicorp

Fitch Ratings said it affirmed the BBB long-term foreign and local currency issuer default ratings of Alicorp SAA.

The agency also affirmed Alicorp's senior notes at BBB.

The outlook is stable.

Fitch said the affirmation reflects Alicorp's solid business profile and conservative credit metrics.

“Alicorp's BBB ratings reflect the company's strong market position in the Peruvian consumer products industry as a result of its leading brands, broad product portfolio and extensive distribution network,” the agency said in a news release.

“Alicorp is well positioned to benefit from a growing middle class in Latin America with increasing purchasing power.”

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