Fitch affirms Axtel

Fitch Ratings said it affirmed Axtel SAB de CV's local and foreign currency issuer default ratings at B and affirmed the long-term national scale rating at BB-(mex).

The outlook is stable.

Fitch has also affirmed the following ratings: senior secured notes due 2020 at B+/RR3; senior secured convertible notes due 2020 at B+/RR3; senior unsecured notes due 2019 at B-/RR5; and senior unsecured notes due 2017 at B-/RR5.

Fitch said the rating actions reflects a better liquidity position after the debt exchange which resulted in lower leverage and a capital structure with more flexibility to service debt and an extended maturity profile.

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