Fitch gives Cementos de Chihuahua B+

Fitch Ratings said it has assigned the following ratings to Grupo Cementos de Chihuahua, SAB de CV: long-term issuer default rating of B+; local currency long-term issuer default rating of B+; and up to $260 million of proposed five- to 10-year senior secured notes at BB-/RR3.

The outlook is stable.

The agency said that the expected recovery ratings of RR3 reflect good recovery prospects given default.

Fitch noted that the company's ratings reflects the company's solid business position in the cement, ready mix and aggregates segments in the regions where it has a presence; diversified operations in Mexico and United States in the non-residential and residential sectors; as well as positive free cash flow generation through the recent industry cycle.

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