Moody’s lifts Liberty Costa Rica

Moody's Investors Service said it upgraded Liberty Servicios Fijos LY, SA’s (Liberty Costa Rica) corporate family rating to B1 from B2 and Liberty Costa Rica Senior Secured Finance's senior secured notes to B1 from B2.

The outlook is stable.

The agency said the upgrade reflects Liberty Costa Rica's solid operating performance following the integration of Telefonica SA (Baa3, stable) mobile assets in Costa Rica.

Moody's said it expects Liberty Costa Rica to generate Moody's-adjusted EBITDA margin and leverage at 38% and 3x, respectively, on a sustained basis.

The upgrade also reflects the upgrade of the government of Costa Rica's ratings to B1 positive from B2 stable, the agency said.

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