...The improved profitability of Peruvian beverage company Atic following its + corporate reorganization in 2016 has prompted a rapid recovery in the company's key credit metrics, and we expect this trend to continue throughout 2018. Therefore, we're raising our long-term corporate credit and issue-level ratings on + Atic to 'B' from 'B-'. Although improved leverage and cash flow metrics could point to a stronger credit + quality, we consider that the ratings on Atic are constrained at this point until the company further consolidates its updated business model across all markets within its recently reorganized portfolio. The stable outlook on Atic reflects our view that it should continue to strengthen + its operations in its core markets and improve profitability. Under such scenario, we expect Atic to continue to generate free operating cash flow (FOCF) and to gradually deleverage its balance sheet with debt to EBITDA transitioning below 4.0x by the end of 2018, while it maintains its adequate...
