Coppel Rating Upgraded

Mexican retail chain Coppel has been upgraded to A+ from A, by Fitch, said the ratings agency in a release. Its outlook was also changed from stable to positive. The ratings upgrade was due to an improvement in earnings results and an increase in the company’s income, says Fitch. EBITDA grew 39.3% in 2010 from 2009 levels. The environment in which the company operates is also supportive to the ratings upgrade, and it is considered one of the top retailers in terms of sales in the market which it operates in, according to Fitch.