Moody’s Lowers Maxcom

Moody’s Lowers Maxcom

Mexico Corporate & Sovereign Strategy

Moody’s has lowered Maxcom’s rating to Ca from Caa1, it says. The move follows the Mexican telecom’s announcement that its recently closed debt and equity tender offers did not meet required minimums, and that it would need to seek strategic alternatives, such as chapter 11. Following a sale to private equity firm Ventura Captial Privado last year, Maxcom was counting on the tender – offering to replace debt due next year for new 2020 bonds – to meet a June coupon payment. “The current weak posi

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