Axtel, S.A.B. de C.V. -- Moody's comments that Axtel's settlement of legal disputes with Telefonica is credit positive; no impact on ratings

New York, June 01, 2015 -- On May 27, 2015, Axtel, S.A.B. de C.V. settled disputes representing around USD23 million (MXN337 million) with Telefonica S.A. (Baa2, stable) related to disagreements over interconnection rates dating from 2005 to 2011. As the last of pending legal disputes with regional telecom operators that originally totaled over USD240 million, Moody's Investors Service says the resolution is credit positive for Axtel since it adds certainty to the company's capacity for directing its cash flow to needed capital expenditures and upcoming debt maturities.

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