Fitch affirms Grupo Televisa

Fitch Ratings said it affirmed Grupo Televisa SAB's long-term foreign and local currency issuer default ratings at BBB+, as well as the company's national long-term rating at AAA(mex).

The outlook is stable.

Fitch also affirmed the company's foreign and local currency senior unsecured debt ratings at BBB+/ AAA(mex), respectively.

“Televisa's ratings reflect its diversified business profile into the cable, content and sky segments,” the agency said in a news release.

“During the last four years, the company has had a strong growth in its cable segment, which has increased its participation in net revenue to 35% LTM as of March 2019 from 25.7% in 2014, and has enabled Televisa to have more stable and predictable cash flow generation.”

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