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Fitch lifts Hypermarcas
Fitch Ratings said it affirmed the foreign- and local-currency issuer default ratings of Hypermarcas SA at BB+.
Fitch also said it upgraded the company's national scale long-term ratings to AA+(bra) from AA(bra).
The agency also revised the company’s outlook to positive.
The outlook revision reflects expectations that in the next 12- to 18-months, Hypermarcas should be able to generate a more robust and steady operating cash flow and sizable level of free cash flow, Fitch said.
The company's increased business concentration in the pharmaceutical segment adds stability to its cash flow in the long run, the agency explained.
Fitch said it will monitor the company’s commercial policy strategies, working capital requirements, level of dividend payouts and merger and acquisitions activities.
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