Fitch rates Televisa notes BBB+

Fitch Ratings said it assigned an international scale rating of BBB+ and a national scale rating of AAA(mex) to Grupo Televisa, SAB's up to Ps. 6.5 billion proposed senior notes due 2043.

Fitch said the BBB+ rating continues to reflect the company's strong business position as the leading Mexican TV broadcaster and one of the largest media companies in the Spanish-speaking world, diversified media and telecommunications portfolio, solid financial position characterized by its robust free cash flow generation and liquidity, as well as extended debt maturity profile.

The ratings incorporate the latest large cash investments in Univision Communications, Inc. and Mexican mobile operator Iusacell, exposure to domestic economic cycles and increased regulation in Mexico, the agency said.

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