Fitch affirms Kimberly-Clark de Mexico foreign currency

Fitch Ratings said it has affirmed the A- foreign currency issuer default rating, the A- senior unsecured rating on the 8.87% senior notes due 2009 and the A local currency issuer default rating of Kimberly-Clark de Mexico, SA de CV (KCM).

Fitch said it has also affirmed KCM's long-term national scale rating of AAA. The outlook for all ratings is stable.

The ratings reflect the company's dominant business position in Mexico, stable cash flows and strong financial profile, Fitch said.

KCM maintains a leading market presence in every product category in which it participates, the agency noted.

KCM has long-term growth opportunities due to favorable demographics, low product penetration and disposable income growth. In Mexico, market penetration of most consumer products, although high by Latin American standards, is low compared with that of the United States.

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