S&P snips Grupo Televisa

S&P said it lowered its ratings on Grupo Televisa SAB and its senior unsecured notes to BBB from BBB+ but affirmed the mxAAA national scale issuer credit and issue-level ratings on the company.

“As of Sept. 30, 2023, the decline of revenue generating units (RGUs) for Televisa in its Sky segment continues to be about 14%. RGUs are 6.3 million (versus 7.3 million in the same period of 2022 and above 8 million in 2021). This decline corresponds to a greater transition of its subscribers to streaming applications that allow them to watch Sky's signature content, such as sports, reality shows, and special events.

“In addition, Televisa has seen rising customer disconnections in prepaid mode, which does not allow it to retain subscribers for at least a year,” S&P said in a press release.

The outlook is stable.

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