S&P lifts Net Servicos

Standard & Poor's said it raised the ratings on NET Servicos de Comunicacao SA to BBB+ from BBB- and removed the ratings from CreditWatch with positive implications, where they were placed on March 27.

The outlook is stable.

The upgrade reflects the company's satisfactory business risk profile and its intermediate financial risk profile, according to the agency.

"Although Net's business mix is narrower than that of its parent company, America Movil SAB de CV (A-/stable), we believe AMX views Net as strategically important," S&P analyst Marcela Duenas said in a statement.

Net is expected to sustain adequate liquidity and low leverage, the agency added.

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