Moody’s upgrades Javer debt

Moody's Investors Service said it upgraded Servicios Corporativos Javer, SAB de CV's senior unsecured debt rating to B1 from B2.

The outlook was revised to positive from stable.

The agency said the upgrade is supported by Javer's sustained growth and geographic expansion over the past few years, while maintaining strong profitability.

Additionally, Javer has focused on improving its capital structure and reducing foreign exchange exposure, resulting in a more resilient credit profile, Moody’s said.

This, in turn, reflects the company's more prudent financial policies, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.