Moody's rates Comcel notes Ba1

Moody's Investors Service said it assigned a Ba1 corporate family rating to Comcel Trust and a Ba1 rating to its proposed senior guaranteed unsecured global notes for about $500 million.

The outlook is stable. Proceeds will be used to repay debt and for payouts to shareholders.

Moody's said Comcel's Ba1 rating reflects the company's leading position in the Guatemalan market, strong EBITDA margin at 54% in the last 12 months ended September 2013, and moderate Moody's-adjusted leverage, pro forma for the proposed notes. Factors constraining the ratings include the company's small revenue size, limited growth potential and high payouts to shareholders that result in low to negative free cash flow.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.