...Solid Business Profile: Alfa S.A.B. de C.V. is one of Mexico's largest conglomerates, and its credit quality benefits from the solid business profiles of its subsidiaries. Its main companies have leading or important positions in their industries and stable capital structures, which support the holding company's rating in the long term. Diversified Business Portfolio: Fitch Ratings believes Alfa's diversified portfolio mitigates its business risks and aids cash flow. Its exposure to the more volatile petrochemical, automotive and oil and gas industries is mitigated by the more stable profiles related to refrigerated foods, and information technology and telecommunications. Alfa's geographic and currency diversification, with operations in 27 countries and around 66% of consolidated revenues from exports and subsidiaries outside of Mexico, also provides flexibility. NAFTA Renegotiation Manageable: Fitch believes a potential imposition of restrictive trade policies due to a renegotiation...
