Moody’s gives Total Play B1, notes B2

Moody’s Investors Service said it assigned a B1 corporate family rating to Total Play Telecomunicaciones, SA de CV. Simultaneously, Moody’s assigned a B2 rating to Total Play’s proposed $500 million of senior unsecured notes due 2027. This rating action is the first time Moody’s assigned a rating to Total Play.

The B2 rating incorporates the guarantee of Total Box, SA de CV, the operating company responsible for 88% of Total Play’s EBITDA and 78% of the revenues, Moody’s said.

Proceeds will be used to repay debt, fund the company’s expansion plan and general corporate purposes.

The outlook is stable.

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