S&P changes Axtel view to stable

S&P said it revised its outlook on Axtel SAB de CV to stable from negative and affirmed its BB- issuer credit rating on the company.

Axtel reported a 4.5% increase in revenue for fiscal year 2023 – its first increase in revenues since pre-pandemic. This follows the launch of the company’s new operating structure, which emphasizes the subsectors with the highest potential demand for services.

“The stable outlook reflects our view that the company’s new business model will enable it to recover revenue growth and generate stable cash flows,” S&P said in a news release.

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