...The ratings reflect Grupo Famsa, S.A.B de C.V.'s market position within the Mexican retail sector, geographic and product diversification, stable operating cash flow generation by the Mexican retail operation, and the expectation of a gradual improvement in leverage. Fitch Ratings expects Famsa to receive at least a MXN800 million payment from its main shareholder, Humberto Garza Gonzalez, in 2018 to reduce debt. Fitch also expects that Famsa's initiatives to refinance a part of its remaining short- term debt will be successful. The ratings incorporate Fitch's expectation that Famsa will receive additional significant payments from Mr. Garza during 20192020, which will be directed toward repaying debt....
