Fitch revises Axtel outlook to stable

Fitch Ratings said it revised its outlook for Axtel SAB de CV to stable from negative and affirmed its BB- ratings.

“The affirmation and stable outlook reflect the company's successful refinancing for its 2024 notes in July of 2023 which gave the company more flexibility in its debt repayment schedule. It also reflects Fitch's expectation that net leverage will remain below 3.5x leverage. The solid growth in the services segment is also a benefit to the rating as the company continues to gain market share in cloud and cybersecurity solutions, offsetting the decline in voice and infrastructure,” Fitch said in a press release.

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