Moody's affirms Maxcom

Moody's Investors Service said it revised the outlook for Maxcom Telecomunicaciones, SAB de CV to stable from positive and affirmed its B3 ratings.

The outlook change was prompted by the likelihood of a softening in the company's business and revenue growth through 2009, which would extend the period in which the company could reverse its negative free cash flow generation, according to the agency.

The B3 rating reflects Maxcom's negative free cash flow, small size and limited operating history, the agency said.

Ratings also reflect prudent business and financial policies as well as good leverage, interest coverage and liquidity, the agency noted.

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