Fitch revises Aldesa to stable

Fitch Ratings said it affirmed Grupo Aldesa SA's long-term issuer default rating at B and revised the outlook to stable from negative.

At the same time, the agency affirmed wholly owned subsidiary Aldesa Financial Services SA's senior secured rating at B/RR4/50%.

Fitch said the stable outlook reflects its expectations that Aldesa will reach more conservative leverage metrics ahead of the next material debt maturity in 2021. It also reflects manageable leverage, owing to sound liquidity, positive expected free cash flow (FCF), and an absence of material short-term debt.

The agency believes Aldesa's business profile is in line with expectations for a B rating, but the financial profile remains weak for the category.

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