S&P affirms Maxcom ratings

S&P said it affirmed its CCC+ corporate credit rating on Maxcom Telecomunicaciones SAB de CV. The outlook remains stable.

At the same time, the agency affirmed its CCC+ issue-level rating on the company's senior secured notes. The 4 recovery rating on the notes, indicating an expectation for average recovery (30%-50%) in the event of a payment default, remains unchanged.

S&P said the rating affirmation reflects Maxcom's weak credit metrics and the uncertainty about the sustainability of its business model, because the company has struggled to materialize growth in the past few years.

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