MONTERREY, Mexico--(BUSINESS WIRE)--Fitch Ratings has upgraded the foreign and local currency Issuer Default Ratings (IDRs) of Bio-PAPPEL, S.A.B. de C.V. (Bio-Pappel) to 'B+' from 'B' and revised the Rating Outlook to Stable from Positive. Subsequently, Fitch has withdrawn the ratings as the company has paid in full its USD200 million senior notes. Fitch will no longer provide rating or analytical coverage of this issuer. The upgrade reflects Bio-Pappel's successful refinancing of the USD 200 n