Fitch upgrades MHP to B

Fitch Ratings said it upgraded MHP SE's long-term foreign-currency issuer default rating and senior unsecured rating to B from B- and removed them from Rating Watch Positive

Fitch said the upgrade follows the improvement in MHP's liquidity profile and hard currency debt service ratio after refinancing of a substantial portion of its debt with the proceeds from its Eurobond issue and the extension of the tenor of its pre-export finance (PXF) facility from one to three years.

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