S&P removes Operadora de Servicios from watch

S&P said it affirmed and removed the BB- and mxA- national ratings of Operadora de Servicios Mega SA de CV (Gfmega) from CreditWatch with negative implications.

“In our view, the firm's continued efforts to widen diversification – in terms of geography, business lines, clients, and economic sectors – will provide business and revenue stability. We expect Gfmega’s improved business position to provide flexibility, making it less vulnerable to the current economic downturn than its peers with the same business risk assessment,” S&P said in a press release.

The outlook is negative.

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