Fitch rates Famsa notes B+

Fitch Ratings said it assigned a B+/RR4 rating to the $250 million 7¼% notes due 2020 issued by Grupo Famsa, SAB de CV.

The outlook is stable.

Famsa's ratings reflect its market position in the Mexican retail sector, geographic and product diversification, broadly stable operating cash flow generation by the retail operation, and a linkage with its banking subsidiary, Banco Ahorro Famsa, Fitch said.

On the other hand, the ratings are constrained by low single-digit same store sales, the agency added.

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