Moody's rates Alpek notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Alpek, SAB de CV's senior unsecured global notes for an amount up to $600 million.

The outlook is stable.

Moody's said the rating is supported by Alpek's importance as a key player in the polyester industry where it has a significant share of North America's industry production capacity of PTA and PET, its efficient cost structure, its strong liquidity and sound credit metrics for the rating category, and the agency's expectation that the company will successfully address its debt maturities in 2014 and beyond.

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