Moody’s rates Sigma notes Baa3

Moody's Investors Service said it assigned a Baa3 senior unsecured rating to Sigma Alimentos SA de CV’s proposed $500 million 10-year global senior unsecured notes.

The outlook is stable.

The proposed notes will be issued by Sigma Finance Netherlands BV and fully and unconditionally guaranteed by Sigma and some of its subsidiaries that account for around 50% and 67%, respectively, of consolidated assets and EBITDA.

The proceeds from the issuance will be used mainly to refinance existing debt.

"The Baa3 rating reflects Sigma's solid market position in the territories in which it operates, its strong liquidity, size and geographic diversification,” Alonso Sánchez, vice president at Moody's, said in a news release.

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