Fitch alters Alpek outlook to positive

Fitch Ratings said it changed Alpek, SAB de CV's outlook to positive from stable and affirmed its BBB- ratings.

“The positive outlook reflects Alpek strengthening its business and leverage profile through acquisitions, as well as diversifying its operating cash flow profile across products. Alpek has a solid customer base and its end markets' resilience to economic downturns, mainly in its polyester business, mitigates the cyclical nature of the petrochemical industry and strong competitive environment,” Fitch said in a press release.

The agency said it estimates Alpek's net adjusted debt to EBITDA to range around 1.1x-1.3x in the next three years, which is in line with 2021 figures.

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