S&P affirms Maxcom

Standard & Poor's said it affirmed the CCC+ ratings on Maxcom Telecomunicaciones SAB de CV.

The recovery rating of 3 on the company's senior secured notes, indicating 50% to 70% expected recovery in default, remains unchanged.

The outlook is negative.

The ratings reflect the company's highly leveraged financial risk profile, vulnerable business risk profile and declining revenues and industry position, S&P said.

Frequent management changes also continue to be a risk, the agency said.

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