Fitch changes Axtel view to positive

Fitch Ratings said it revised the outlook for Axtel, SAB de CV to positive from stable and affirmed the company’s ratings, including the long-term foreign currency issuer default rating at BB-, local currency IDR at BB-, national long-term rating at A-(mex) and 2024 dollar-denominated senior unsecured notes at BB-.

The ratings reflect the company's stable operational performance in the enterprise and government telecommunications segment in Mexico, as well as the company's steady deleveraging via asset sales. The ratings are tempered by Axtel's relatively small operating scale. While the company's strategic refocusing and consistent deleveraging is a positive for the credit, execution risk remains high amid an evolving Mexican telecom market, Fitch said.

© 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.