...The ratings reflect Grupo Famsa, S.A.B de C.V.'s market position within the Mexican retail sector, geographic and product diversification, the stable operating cash flow generated by the Mexican retail operation and the expectation of a gradual improvement in leverage. Famsa's Positive Outlook reflects its improving financial position following the deleveraging plan and short-term debt refinancing the company executed since 2017. The Outlook considers the increased confidence in Famsa's ability to keep improving consolidated profitability and its U.S operation results. Fitch Ratings expects Famsa to continue receiving, as scheduled, significant additional payments from the collection rights to its main shareholder, Humberto Garza Gonzalez. These proceeds are expected to be directed toward repaying debt....
