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Columbus International, which trades as Flow in the region, is in line for an upgrade from two rating agencies.
This follows the announcement that Cable & Wireless is to acquire it for US$3 billion, including the assumption of debt.
Moody’s and Standard & Poor's have put out statements favouring the deal.
Moody’s analyst Sandra Beltrán said the agency is of the view that the acquisition will lead to an enhancement of the profile of Columbus, given CWC’s larger scale and leading market positions throughout the region as well as its stronger balance sheet.
The rating agency expects to close the review shortly after the closure of the acquisition which is expected in the first quarter of 2015.
Standard & Poor's has put Columbus International's ‘B’ Ratings” on watch to have its outlook upgraded to positive.
It said the CreditWatch placement reflects the possibility that S&P could raise the ratings on Columbus if the acquisition is completed.
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