Fitch upgrades Axtel after asset sales

Fitch upgrades Axtel after asset sales

Credit Ratings Fitch Ratings Upgrade Debt Bonds Mexico United States Telecoms

Fitch Ratings has upgraded Mexico's Axtel by one notch to BB after the telecommunications company used the money from asset sales to pay off debt. "Axtel has cut its gross debt from MXN20 billion [$974 million] to MXN14 billion since 2017," Fitch said in a report on Monday, adding that the "ratings are tempered by Axtel's relatively small operating scale." Fitch also said it revised the outlook on Axtel's ratings to stable from positive. Monterrey-based Axtel split the company into two units in

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