Press release Fitch Ratings (ESP)
Yesterday, Fitch Ratings affirmed the rating of the Grupo National de Chocolates Trust (Grupo Nutresa) Ordinary Bonds for COP 500.000 billion in ‘AAA(col).’ The perspective is stable.
According to Fitch Ratings, the decision to affirm the rating “reflects the Company’s strong competitive position in its relevant markets, its growing geographic diversification in countries with a favorable operating environment and its strong credit profile, characterized by a moderate level of leverage and a robust generation of operating cash flow across the business cycle. The Company’s competitive position and its brand capital have allowed it to defend its margins of profitability. This is in the midst of a challenging economic environment, characterized by the inertia of a weakened exchange rate, rising inflation, high interest rates and deceleration of private consumption. The rating incorporates the pressure on liquidity indicators.”
In the future, the rating agency: