Moody's rates Alpek notes Baa3

Moody’s Investors Service said it gave a Baa3 senior unsecured rating to Alpek SAB de CV’s proposed 10-year senior unsecured global notes for up to $500 million.

Proceeds will be used to refinance debt.

“The proposed transaction will improve Alpek's debt maturity profile as it will refinance existing short-term debt,” said Moody’s in a press release.

The outlook is stable.

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