Moody's upgrades Alestra to Ba3

Moody's Investors Service said it upgraded Alestra, S de RL de CV's ratings to Ba3 from B1 based on consistent positive operating results and improved credit metrics.

The ratings assume a successful refinancing of $200 million in senior notes due August 2014.

The outlook is stable.

Moody's said the upgrade was based on Alestra's solid operating performance in the last couple of years, when it had to gradually reconstruct its sales after the exit of AT&T as a shareholder in 2011. Since that year, Alestra has been able to gradually replace most revenues originally directed to AT&T, estimated by Moody's at about 20% of total in 2011, with sales to new customers.

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