SAO PAULO--(BUSINESS WIRE)--Fitch Ratings has affirmed the ratings for Tupy S.A. (Tupy) as follows: Tupy --Long-term foreign currency Issuer Default Ratings (IDRs) at 'BB'; --Long-term local currency IDRs at 'BB'; --Long-term national scale rating at 'AA(bra)'; Tupy Overseas S.A. --USD350 million senior notes, guaranteed by Tupy, due in 2024, at 'BB'. The Rating Outlook for the corporate ratings is Stable. The ratings reflect Tupy's capacity to continue generating adequate operational cash flow