Fomento Economico Mexicano S. A. B. de C.V.'s Proposed Senior Unsecured Notes For Up To $2 Billion Rated 'A-'

MEXICO CITY (S&P Global Ratings) Sept. 27, 2019--S&P Global Ratings assigned its 'A-' issue-level rating to Fomento Economico Mexicano S.A.B. de C.V.'s (FEMSA; global scale: A-/Stable/--; national scale: mxAAA/Stable/mxA-1+) proposed senior unsecured notes of up to $2 billion due 2029 and 2049. The proposed notes won't be guaranteed by any of FEMSA' subsidiaries and will rank pari passu in right of order and payment with the company's existing unsecured notes issued at FEMSA level. The company plans to use the net proceeds of the issuance for general corporate purposes over the next 12 to 24 months. The rating on the notes is at the same level as the issuer credit rating, reflecting our view that there's no significant subordination risk

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