Fitch raises KUO

Fitch Ratings said it upgraded Grupo KUO, SAB de CV's issuer default ratings as follows: long-term issuer default rating to BB- from B+; long-term local issuer default rating upgraded to BB- from B+; and long-term National rating to BBB+(mex) from BBB(mex).

The outlook is stable.

In addition, Fitch said it has affirmed KUO's $200 million of senior notes due 2017 at BB- and has withdrawn the RR3 Recovery rating.

The ratings upgrade is supported by KUO's improved financial profile, reflecting the company's management initiatives to preserve and strengthen profitability and cash generation, the agency added.

© 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.