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Fitch gives Transtel notes CCC+
Fitch Ratings said it assigned an issuer default rating of CCC to Transtel Intermedia SA and a CCC+ to the proposed issuance of $180 million senior secured notes due 2012. The outlook is stable.
Fitch noted Transtel's rating incorporates the company's high leverage, marginal yet improving profitability, limited financial flexibility and its position as a niche player in Colombia's competitive local exchange market.
The ratings incorporate an improved maturity profile, which is the result of a debt restructuring early last year and moderate regulatory risk, the agency said.
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