S&P gives Axian Telecom, notes B+

S&P said it gave B+ long-term foreign and local-currency issuer credit ratings to Axian Telecom and a B+ rating to its senior unsecured notes.

“We anticipate that Axian Telecom will generate robust free operating cash flow (FOCF), that will enable it to steadily deleverage to a S&P Global Ratings-adjusted debt to EBITDA of about 1.8x in 2023, from about 2.0x in 2020,” the agency said in a press release.

The agency said it expects Axian Telecom to deliver S&P Global Ratings-adjusted EBITDA margins of 50%-55%, which is higher than many rated telecom operators in the broader Europe, Middle East and Africa region where the average margin is generally 30%-45%.

The outlook is stable.

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