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Prospect News home > News index > List of issuers M > Headlines for Maxcom Telecomunicaciones SAB de CV > News item
Published on 8/21/2019 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

S&P corrects Maxcom ratings

S&P said it corrected the ratings for Maxcom Telecommunications SAB de CV and its step-up notes to D from CC. The agency also removed the ratings from CreditWatch with negative implications.

“We should have downgraded Maxcom to D on June 19, 2019, because the company missed an interest payment on its step-up senior notes due 2020. There was no intention to honor the coupon payment within the grace period because Maxcom announced potential restructuring or filing for bankruptcy under U.S. Chapter 11,” said S&P in a news release.

Maxcom filed for bankruptcy on Aug. 15.


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