Fitch affirms Grupo Televisa

Fitch Ratings said it affirmed Grupo Televisa, SAB's foreign-currency issuer default rating at BBB+, local-currency issuer default rating at BBB+, national long-term rating at AAA(mex), outstanding balance of $72 million of 8% senior notes due 2011 at BBB+, $500 million 6% senior unsecured notes due 2018 at BBB+, $600 million 6.625% senior unsecured notes due 2025 at BBB+, $300 million 8½% senior unsecured notes due 2032 at BBB+, 4.5 billion in Mexican peso 8.49% senior unsecured notes due 2037 at BBB+/AAA(mex), $600 million 6.625% senior unsecured notes due 2040 at BBB+.

The outlook is stable.

The ratings reflect the company's leading business position, strong free cash flow generation, extended maturity profile and solid liquidity, Fitch said.

The company's leading business position is underpinned by Televisa's high quality in-house content production focused on audience interests, which are distributed worldwide, the agency said.

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