Fitch rates Kansas City Southern de Mexico notes BB-

Fitch Ratings said it assigned a BB- foreign-currency rating to Kansas City Southern de Mexico, SA de CV's new $200 million 12½% senior notes due 2016 and affirmed its long-term issuer default rating, local-currency long-term issuer default rating and existing senior notes at BB-.

The outlook has been revised to negative from stable.

The agency said the outlook revision reflects its concern about the company's challenging operating environment, declining revenues and expected increase in leverage during 2009. The total adjusted debt-to-EBITDAR ratio was 3.8 times by the end of December, up from 3.6 a year earlier.

The ratings continue to be supported by the company's business position as a leading provider of railway transportation in Mexico, Fitch 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.