S&P Raises Xignux to BB+ Plus

S&P Raises Xignux to BB+ Plus


S&P has upped its corporate credit rating on Xignux, the Mexican diversified holding company, to BB+ (stable) from BB and raised its 2009 notes to BB from BB-. "The rating action reflects an improvement in the issuer's financial profile supported by better-than-expected financial performance during 2007," says S&P analyst Jose Coballasi. "In addition, the rating action considers that the prospects for the power transformers business will remain favorable and will continue to drive strong results

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