• AAA is the highest credit rating in Mexico
• Moody’s calculated a strong leverage and interest coverage level
• Trends in the electrical sector have accelerated its growth in North America

Monterrey, N.L., December 18, 2023 – Xignux has been awarded the AAA local long-term issuer rating by Moody’s. The rating highlights the strong competitive position of its business lines, its broad and diversified customer portfolio, its successful expansion in the U.S. market, and favorable prospects for the transformer business.

According to Moody’s, Xignux maintains moderate levels of leverage and interest coverage, high financial flexibility, and a comfortable debt maturity profile.

“Moody’s rating is a result of the consistent application of our conservative financial policy and timely investments in growth sectors,” stated Angel De Soto, Finance and Administration Director of Xignux, adding, “We will continue to invest heavily in the North America’s electrical market, which is and will remain very attractive.”

Xignux recently announced significant investments in organic growth in its cable and transformer businesses, including the construction of a new transformer production plant worth $85 million in the municipality of Apodaca. With this new Prolec GE investment, the company reaches a total investment exceeding $145 million in 2023.

In cable production, Xignux, through its subsidiary, Viakable, is investing over $100 million to increase production capacity in its plants, both in Mexico and the United States.

These actions demonstrate the strength of Xignux’s businesses and its vision to become a leader in the markets in which it operates. In the last three years, Xignux has invested more than $1 billion in its various business units and, in the next three years, plans to allocate an additional $1 billion.

 

About Xignux

Xignux is a leader in the energy and food industries. Based in Monterrey, Mexico, we manage a variety of companies that energize life and society to contribute to a better world, thanks to the hard work and talent of more than 30,000 employees in Mexico, the United States, and Brazil.

In the energy industry, Viakable offers electrical conductors, and Prolec specializes in energy transformation and delivery. In the food sector, Qualtia provides a wide portfolio of cheeses, cold cuts, meats, and food service, while BYDSA produces savory snacks. Through its Social Responsibility model and the Xignux Foundation, the company also contributes to society´s sustainable development with active participation in four priority areas: energy, nutrition, education, and community development.

Xignux was founded 67 years ago and the solutions from its companies reach more than 35 countries. Learn more about us at www.xignux.com