Fitch affirms Telecomunicaciones de Bogota

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

The outlook is stable.

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

The ratings are tempered by increased competition, mobile substitution and limited geographical footprint and service revenue diversification, the agency said.

The company's BBB- foreign-currency issuer default rating is rated at Colombia's country ceiling, incorporating a stronger credit profile than the foreign-currency issuer default rating of the District of Bogota, Fitch added.

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