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S&P lifts Intcomex to stable
Standard & Poor's said it affirmed the B corporate credit rating on Intcomex Inc., and revised the outlook to stable from negative.
The outlook revision reflects improved revenue and EBITDA growth, S&P said, and an expectation that Intcomex will maintain adequate covenant headroom under its senior note fixed-charge coverage requirement.
The ratings also consider an expectation that Intcomex's modest earnings and cash flow from operations, as well as geographic concentration in Latin American markets, will limit near-term improvement in the company's aggressive financial profile, the agency said.
The company should continue to benefit from a diverse customer base, low PC penetration rates in Latin America and expansion into distribution of mobile devices, S&P added.
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