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S&P trims Axian Telecom
S&P said it lowered its ratings for Axian Telecom and its senior unsecured debt to B from B+.
“The downgrade is primarily driven by our view that Axian Telecom's tolerance for increased leverage indicates a less supportive financial policy. We expect Axian Telecom will now sustain S&P Global Ratings-adjusted debt to EBITDA below 3x and FFO to debt above 20% relative to our previous expectations of below 2x and above 45% respectively,” S&P said in a press release.
The agency said it expects Axian Telecom will focus on deleveraging and forecasts it will restore S&P Global Ratings-adjusted debt to EBITDA below 2x after 2025.
The outlook is stable.
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