Fitch affirms ETB

Fitch Ratings said it affirmed Empresa de Telecomunicaciones de Bogota SA, ESP's (ETB) local-currency issuer default rating at BBB-, foreign-currency issuer default rating at BBB-, national scale rating at AAA(col).

The outlook is stable.

The ratings are supported by the company's conservative financial profile, free cash flow generation and leading positions in local and broadband services in Bogota, Fitch said.

The ratings are balanced against increased competition, mobile substitution and limited geographical and service revenue diversification, the agency said.

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