S&P upgrades Axtel

Standard & Poor’s said it raised its corporate credit rating on Axtel SAB de CV to BB from B- and removed this rating from CreditWatch positive, where it was placed on Oct. 2.

The outlook is stable.

At the same time S&P withdrew the company’s existing issue-level ratings.

S&P said the upgrade reflects the legal completion of the merger between Axtel and Alestra.

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