Fibra Uno Reaffirms Commitment to Investment Grade Rating
Fibra Uno, the largest real estate investment trust listed on the Mexican stock market, has reaffirmed its commitment to maintaining its investment-grade rating following Moody’s decision to place the fibra’s rating under review for a potential downgrade.
Last week, Fibra Uno lifted confidentiality for the launch of a local bond issuance to refinance a portion of its short-term debt obligations. The company also intends to engage in discussions with Moody’s to present its plans for addressing upcoming debt maturities, according to a statement.
Moody’s announced the rating review on Tuesday as it evaluates Fibra Uno’s ability to deleverage and improve its overall credit metrics, as well as its refinancing plans for short-term debt maturities.
Chedraui Acknowledges Slowing Consumer Spending in Mexico
Grupo Comercial Chedraui, one of Mexico’s three major supermarket chains, acknowledged a slowdown in consumer spending within the Mexican market. This trend aligns with observations from other consumption-focused companies and reflects broader economic expectations since the start of the year.
José Antonio Chedraui, Director of Grupo Comercial Chedraui, explained during a conference with analysts and investors that the company faced more challenging comparative bases due to an unfavorable calendar effect, with February having one less trading day.
América Móvil Delays Annual Report Submission
América Móvil, Latin America’s largest telecommunications company, announced it will submit its annual report for fiscal year 2024 out of time due to additional time required by its external auditor, Mancera S.C., a member of Ernst & Young Global Limited.
The delay stems from Mancera/EY conducting reviews related to certain business processes in América Móvil’s mobile and fixed-line segments in Mexico. The company is collaborating with Mancera/EY to expedite the completion of these processes and aims to present the annual report in English (Form 20-F) and Spanish as soon as possible.
Xbox Increases Prices Due to US Tariffs
Xbox, a division of Microsoft, has raised prices for its video game consoles, controllers, exclusive titles, and other accessories. This move follows similar pricing adjustments by competitors due to US tariffs impacting global supply chains.
In a blog post on Thursday, Xbox stated it would increase product prices in the US, Europe, Australia, and the UK markets. For instance, the Xbox Series X console will now retail for approximately $600 in the US, marking a $100 increase.
Key Questions and Answers
- What is Fibra Uno’s commitment regarding its investment grade rating? Fibra Uno has reaffirmed its commitment to maintaining its investment-grade rating by engaging with Moody’s and planning for upcoming debt maturities.
- Why is Chedraui concerned about slowing consumer spending? Chedraui acknowledges a slowdown in consumer spending within the Mexican market, which aligns with observations from other consumption-focused companies and broader economic expectations.
- Why is América Móvil delaying its annual report submission? América Móvil is delaying its annual report due to additional time required by its external auditor, Mancera S.C., for reviewing certain business processes in its mobile and fixed-line segments in Mexico.
- What factors are driving Xbox’s price increases? Xbox is raising prices due to US tariffs affecting global supply chains, following similar pricing adjustments by competitors.
