OREANDA-NEWS. Fitch Ratings has affirmed Grupo Petrotemex, S.A. de C.V.'s (Petrotemex) local and foreign currency Issuer Default Ratings (IDRs) at 'BBB-' and DAK Americas LLC's (DAK) foreign currency IDR at 'BBB-'.

Fitch has simultaneously withdrawn the ratings of these companies as they are no longer considered by Fitch to be relevant to the agency's coverage. To date, Petrotemex and DAK do not have outstanding debt issued in the capital markets and do not plan to access them in the midterm. Fitch will no longer provide ratings or analytical coverage of these issuers.

Fitch will continue to provide ratings and analytical coverage to parent company Alpek, S.A.B. de C.V. (Alpek). A full list of Alpek's ratings follows at the end of this press release.

KEY RATING DRIVERS

Under Fitch's approach to rating entities within a corporate group structure, Alpek, DAK and Petrotemex are rated the same, as the linkage among them is considered strong. Some of the factors for the strong linkage include the integration of operations and management as well as debt guaranteed by the subsidiary and cross-default provisions.

Fitch currently rates Alpek as follows:

--Local currency IDR 'BBB-';
--Foreign currency IDR 'BBB-';
--USD650 million senior notes due 2022 'BBB-'
--USD300 million senior notes due 2023 'BBB-'.