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Moody's assigns Operadora de Servicios, notes Ba2
Moody's Investors Service said it assigned first-time ratings to Operadora de Servicios Mega, SA de CV. Moody's assigned a Ba2 long-term global local- and foreign-currency issuer ratings and a Ba2 long-term corporate family rating. The outlook is stable. Moody's also assigned a Ba2 long-term foreign-currency debt rating to Mega's proposed $300 million senior unsecured 144A/Reg S fixed-rate five-year notes.
Moody's said the Ba2 ratings incorporate Mega's business focus on lease financing of high value products and the company's careful selection of targeted borrowers, which ensures adequate asset quality and good earnings generation. The ratings also mirror Mega's ample capitalization, which partially mitigates the risks associated with the company's very rapid growth and its sizable industry and single borrower concentrations.
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