S&P rates Alpek notes BBB-, lifts Petrotemex

Standard & Poor's said it assigned a BBB- global scale rating on Alpek SAB de CV and its proposed issuance of up to $600 million 10-year unsecured notes.

S&P also raised the global scale rating on wholly owned subsidiary, Petrotemex, to BBB- from BB+ and global-scale rating to mxAA from mxAA-.

The outlook is stable.

The ratings reflect the company's fair business risk profile and intermediate financial risk profile, S&P said.

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