(national scale: mxAA/Stable/ )

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canada goose The stable outlook reflects our expectation that KUO will maintain its key financial ratios and continue its efforts to strengthen its operating performance. (KUO) to from and its national canada goose uk shop scale Canada https://www.canadagooseoutletshop.co.uk Goose sale ratings to from We also raised our foreign currency ratings on KUO $250 million Canada Goose Coats On Sale senior unsecured notes maturing in 2017 and on KUO $175 million unsecured bank loan cheap canada goose uk maturing in 2013 to from canada goose

buy canada goose jacket cheap The recovery rating canada goose uk outlet on both issues is At the same time, we raised our national scale rating on KUO MXN700 million notes maturing in 2015 to from buy canada goose jacket cheap

buy canada goose jacket The outlook is stable. buy canada goose jacket

Canada Goose Parka rating action reflects the significant and consistent buy canada goose jacket cheap improvement in canada goose uk black friday KUO financial performance over the canada goose black friday sale past two years, as evidenced by its key financial ratios, Canada Goose Outlet said Standard Poor credit analyst Bernardo Gonzalez. KUO total debt to EBITDA ratio is close to 2.5x as a result Canada Goose online of debt reduction and a stable EBITDA generation. Canada Goose Parka

canada goose store Mexico based canada goose store conglomerate KUO weak business risk profile, canada goose clearance sale which reflects its single digit operating margins; the cyclicality in some of its core businesses; and its exposure coats Canada Goose Parka to the volatility of its raw materials prices and foreign exchange rate fluctuations limit our ratings on the company. canada goose store

canada goose clearance KUO significant financial risk profile, its focus on maintaining only profitable and value added operations, and the continued implementation of cost reduction and efficiency programs support the ratings. For the past 12 months ended March 31, 2011, KUO posted adjusted EBITDA interest uk canada goose outlet coverage, total debt to EBITDA and funds from operations (FFO) total debt ratios of 3.1x, 2.5x, and 37.2%, respectively. In particular, KUO total debt to EBITDA ratio shows a significant improvement relative to the buy canada goose jacket 4.5x posted the same period in 2009, reflecting the reduction in KUO total canada goose debt to MXN5,249 million from MXN7,645 million canada goose coats through its free operating cash flow generation and asset sales. canada goose clearance

cheap Canada Goose We do not expect KUO to significantly reduce its debt until uk canada goose 2015, given the issuer current debt maturity schedule. However, we Canada Goose Online expect that higher revenues canada goose coats on sale and a stable EBITDA margin should allow it to post total debt to EBITDA, EBITDA interest coverage and FFO to total debt ratios of 2.4x, 3.0x, and 26.3% in 2011, and 2.2x, 3.3x, and 29.3% in 2012, respectively. (national scale: mxAA/Stable/ ). cheap Canada Goose

Canada Goose sale Also, KUO has increased its capital investments in the pork meat business unit to raise the production capacity and stores network, which should aid its revenue growth. To date, KUO has been able to pass raw material price increases to its customers in the chemical segment, allowing it canada goose clearance to maintain its EBITDA margin at about 9.0%, despite the strengthening of the Mexican peso. The stable outlook reflects our expectations that KUO will maintain its key financial ratios and continue canada goose factory sale to focus on more value added and profitable businesses over the next two Canada Goose Jackets years. We could lower the ratings if KUO operational cheap Canada Goose performance declines and weakens its financial risk profile. In particular, we believe that a drop in its EBITDA margin to less than 7% could lead to a total debt EBITDA ratio exceeding 3.0x. Canada Goose sale

canadian goose jacket This could be the result unfavorable macroeconomic conditions, which could hurt the demand of consumer goods; a downturn in the automotive sector, which would reduce orders from original equipment manufacturers (OEMs); or higher raw material prices. canadian goose jacket

Canada Goose Outlet A positive rating action is possible if KUO improves its risk business profile through a stronger operating performance, particularly a significant increase in its EBITDA margin, canadian goose jacket which would provide a cushion against commodity price volatility and foreign exchange fluctuations Canada Goose Outlet.

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