Controladora Mabe, S.A. de C.V.'s Proposed $370 Million Senior Unsecured Notes Rated 'BBB-'

MEXICO CITY (S&P Global Ratings) Oct. 9, 2018--S&P Global Ratings today assigned its 'BBB-' issue-level rating to Controladora Mabe S.A.B. de C.V.'s (Mabe; BBB-/Stable/--) proposed $370 million senior unsecured notes with a 10-year maturity. The transaction is part of Mabe's liability management plan. The company will use the proceeds from the notes mostly for the recently announced tender offer to purchase up to $350 million in outstanding bonds due 2019, and will use the remainder for general corporate purposes. Subsidiary company Mabe, S.A. de C.V. will fully and unconditionally guarantee the notes on a senior unsecured basis. Our ratings on Mabe continue to reflect our expectation that the company's financial discipline will help further reduce debt within the next 12-24

...MEXICO CITY (S&P Global Ratings) Oct. 9, 2018--S&P Global Ratings today assigned its '###-' issue-level rating to Controladora Mabe S.A.B. de C.V.'s (Mabe; ###-/Stable/--) proposed $370 million senior unsecured notes with a 10-year maturity. The transaction is part of Mabe's liability management plan. The company will use the proceeds from the notes mostly for the recently announced tender offer to purchase up to $350 million in outstanding bonds due 2019, and will use the remainder for general corporate purposes. Subsidiary company Mabe, S.A. de C.V. will fully and unconditionally guarantee the notes on a senior unsecured basis. Our ratings on Mabe continue to reflect our expectation that the company's financial discipline will help further reduce debt within the next 12-24 months. We also consider that trade activity in North America could gradually pick up amid the renegotiation of the North American Free Trade Agreement (NAFTA) as investor and consumer confidence is restored. Under...

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