S&P boosts MasTec notes

S&P said it boosted MasTec Inc.’s senior unsecured note rating to BB+ from BB and revised the company’s outlook to positive from stable.

The rating upgrade follows MasTec refinancing its credit facility.

“Our positive outlook on MasTec reflects our expectation that continued top-line growth and project efficiencies will allow the company to maintain debt to EBITDA below 2x,” S&P said in a press release.

Concurrently, the agency affirmed MasTec’s BB+ issuer rating.

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