Moody's rates Alsur B2

Moody's de Mexico said it assigned B2 long-term and Not-Prime short-term local-currency issuer ratings and Ba2.mx long-term and MX-4 short-term Mexican national scale issuer ratings to Almacenadora Sur SA ("Alsur"). The outlook is stable.

The ratings reflect the company's small franchise and short track record under its actual ownership structure and relatively new strategic goals, the agency said. The ratings are constrained by Alsur's low profitability and by the company's developing franchise, still-untested ability to generate stable and consistent earnings, small business diversification and poor client granularity.

Moody's noted that the potential for synergies with companies of its economic group should help develop Alsur's franchise.

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