Fitch rates America Movil notes BBB

Fitch Ratings said it assigned a BBB rating to America Movil SA de CV's proposed $500 million senior notes due 2015.

Fitch also affirmed its existing unsecured debt ratings of America Movil, which include a foreign currency rating of BBB with a stable outlook and a local currency rating of BBB+ with a positive outlook.

Fitch said the ratings of America Movil continue to reflect the company's strong business position in the Mexican wireless market, its diversified and growing portfolio of wireless assets throughout Latin America and its sound financial and liquidity position.

Proceeds from the debt issuance will be used to fund capital expenditures but will not materially affect overall financial leverage levels, according to Fitch.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.