Fitch: Bidvest positive

Fitch Ratings said it revised the outlook on the Bidvest Group Ltd.'s national long-term rating to positive from stable and affirmed the national long-term rating at A+(zaf) and national short-term rating at F1(zaf).

The outlook revision reflects the faster-than-expected pace of improvement in Bidvest's financial profile demonstrated in the financial year ended June 30 given increased funds from operations profitability, stronger operating cash flow and moderate net leverage, Fitch said.

The lease-adjusted net debt-to-EBITDAR ratio for 2010 is 1.6 times.

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