S&P puts KIO on positive watch

S&P said it placed its B ratings on Sixsigma Networks Mexico SA de CV (KIO Networks) on CreditWatch with positive implications.

Monday, KIO reported all its shareholders agreed to sell the company to I Squared Capital.

“Short-term debt refinancing after the transaction would reduce KIO Networks' current short-term liquidity risks. Our CreditWatch positive listing reflects a 50% probability of an upgrade if the new owner executes a long-term strategy towards improving the company's short-term liquidity position,” S&P said in a press release.

The agency said it plans to resolve the CreditWatch listing in the next three months.

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