KIO Network's leverage raised more than we expected, and it's likely to remain high for the next two years. We're revising our financial risk profile assessment on the Mexico-based data center to "highly leveraged" from "aggressive." We're lowering our ratings on the company to 'B+' from 'BB-'. The stable outlook reflects our expectation that the company will have adequate liquidity to fund growth initiatives, resulting in a free operating cash flow (FOCF) shortfall in the next 12-18 months. On Oct. 29, 2015, Standard&Poor's Ratings Services lowered its ratings on Sixsigma Networks Mexico, S.A. de C.V. (KIO Networks), including the corporate credit rating, to 'B+' from 'BB-'. The outlook on the corporate credit rating is stable. The '4' recovery
