Cablemas Rating Rises

Fitch upgraded the ratings of Mexico telecom Cablemas to BB from BB minus to reflect the company’s improved financial profile and stable debt levels. Fitch expects leverage measured as total debt to Ebitda will remain between 1.5x and 2.0x in the medium term. In addition, it says the company’s debt maturity schedule is manageable. Total debt-to- Ebitda for the last 12 months ended June 30 is 2.1x, down from 2.3x in 2009.