Fitch rates El Puerto de Liverpool notes BBB+

Fitch Ratings said it assigned foreign- and local-currency issuer default ratings to El Puerto de Liverpool, SAB de CV, along with an expected BBB+ rating to its proposed up to $500 million senior unsecured notes due 2024.

The outlook is stable.

The ratings reflect the company’s leading business position in Mexico, where the company has a strong presence with 102 stores and 22 shopping malls, solid market participation, geographic diversification within Mexico and high proportion of owned property, Fitch said.

The ratings also consider the quality of its loan portfolio and solid financial position, the agency said.

Also supporting the ratings is the company’s positive cash generation from operations throughout the business cycle, Fitch said.

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