Fitch gives Cervecereas Unidas, notes A-

Fitch Ratings said it gave a long-term foreign currency and local currency issuer default rating of A- to Compania Cervecerias Unidas SA (CCU). The agency also assigned an A- rating to CCU's planned senior unsecured notes due in 2032 for up to $600 million.

“The ratings reflect CCU's solid market position, strong cash flow generation and low leverage. The ratings incorporate potential inorganic acquisitions,” Fitch said in a press release.

The proceeds will be kept in cash and cash equivalents until needed, as there is no target project that need that financing currently. It could also be used to finance future maturities.

The outlook is stable.

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