S&P rates Opsimex notes BBB-

Standard & Poor’s said it assigned BBB- ratings to Operadora de Sites Mexicanos, SA de CV’s (Opsimex) an OSM 15 series of senior unsecured notes.

The company will issue these notes together with OSM 15-2 and OSM15U series for a combined amount of up to 22 billion in Mexican pesos.

Opsimex plans to use the proceeds for refinancing, asset and capital investments and working capital needs, S&P said.

The ratings reflect the company’s leading position with a 43% share in the Mexican tower market, strategically located assets across Mexico and high barriers to entry into the market in which it operates, the agency said.

Additionally, it reflects an expectation that the company’s debt-to-EBITDA ratio will remain high during the next two years, S&P said.

The agency said it does believe that this ratio will drop to 5.4x by the end of 2016 and to 4.3x by 2017 due to the company’s internal expansion and free cash flow generation.

© 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.