Fitch rates Globo notes BBB-

Fitch Ratings said it assigned foreign- and local-currency issuer default ratings of BBB- to Globo Comunicacao e Participacoes SA and an AA+(bra) national scale long-term rating.

The agency assigned BBB- ratings to Globo's $325 million 9 3/8% perpetual notes issued in 2006 and $200 million 7¼% senior notes due 2022.

The outlook is stable.

Ratings are supported by a strong business position and solid financial profile, the agency said.

Ratings also reflect the Brazilian economy, increased competition and moderate regulatory risk, Fitch noted.

Globo's total debt-to-EBITDA ratio was 0.7 times for the last 12 months.

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