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Fitch Ratings the rating has increased Failure of the transmitter (IDR, for its acronym in English) Nemak, who placed it in the investment category.
The subsidiary of Alfa, pointed out that the rating agency has increased IDR globally BBB- BB + and nationwide long-term ranging from AA- (mex) to AA (mex).
He also mentioned that the agency had changed the perspective of the qualification of positive to stable.
al September 30th Nemak had a reason net debt cash flow at 1.8 times and net interest coverage of 8.4 times.
"This improvement reflects the Nemak's successful career with a prudent financial management, as well as its strong credit profile and global business position, "said Armando Tamez, CEO of Nemak.
"We are proud of the efforts made to achieve disciplined and consistent growth, having maintained a ratio of cash net debt to cash of less than 2.0 times over 20 consecutive quarters. In addition, having achieved the objectives investment grade will help us access more attractive financing opportunities in the future, "he said.
during third quarter of the year, Nemak reported a 5.1% increase in volume from 11.7 million equivalent units (mol) to 12.3 million euros.
On the other hand, the income of the producer of aluminum car partsor, in the period from July to September, a total of $ 152 million; this is up 4.8% from $ 1.099 million in the third quarter of 2017.
The flow of this period, added $ 160 million, an increase of 4.6% compared to the same period last year.
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