...+ Peruvian beverage company Atic continues to implement strategic initiatives to improve its profitability, which in our view, will strengthen its key credit metrics over the next few quarters, so that its gross leverage ratio remains below 5.0x. + In December 2018, Atic received a waiver after breaching several financial covenants under its credit agreement it has on its club deal loan. We don't consider Atic faces a substantial acceleration risk on its bank debt, because we expect the company to remedy such a breach in the near term, and that creditors would remain open in extending the cure period if needed. + In our view, the recovery of the company's profitability and cash flow generation, as well as the close and longstanding relationships with domestic banks will mitigate potential liquidity risks for Atic in the next 12 months. + On Feb. 19, 2019, we affirmed our 'B' issuer credit and issue-level ratings on Atic. + The outlook remains stable, reflecting our expectation that Atic's...
