S&P affirms Grupo KUO

Standard & Poor’s said it affirmed its BB global scale and mxA national scale corporate credit ratings on Grupo KUO, SAB de CV.

The outlook remains stable.

At the same time, S&P’s recovery rating of 3 on KUO’s debt on a global scale remains unchanged, and S&P assigned the same recovery rating to this debt on a national scale.

S&P said the ratings affirmation follows the assignment of a recovery rating on a national scale to KUO’s local unsecured notes (certificados bursatiles or Cebures) due 2015 and 2019, each for about $53 million.

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