Maxcom Rating Hits Rating Danger Area

Maxcom Rating Hits Rating Danger Area

Mexico

Moody's has downgraded the ratings of Mexico-based telephone company Maxcom’s corporate family and senior unsecured debt to Caa1 from B3. The outlook is negative. The cut was prompted by Maxcom's continued weak operating performance due to adverse economic conditions in its target markets as well as an intensifying competitive environment. The negative outlook reflects Maxcom's liquidity situation, which is dependent on reduced levels of capex of about 50% (from $60m in 2010 to $30m expected for

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