Moody's rates America Movil notes A2

Moody's Investors Service said it assigned A2 global and Aaa.mx national scale ratings to America Movil's proposed issuance of up to Ps.10 billion in debt securities.

The notes are the second reopening of the issue and are senior unsecured debt obligations due in 2022.

The proceeds will be used for corporate purposes, including debt refinancing, Moody's said.

The outlook is stable.

The ratings are supported by the company's status as Mexico's largest telecom operator with market shares of about 70% on wireless and 80% on wireline subscriber bases, Moody's said.

The ratings also reflect its No. 1 position as a regional mobile telecom service provider in Latin America; its No. 9 position in the global telecom universe in terms of revenues and its strong operating cash flow, the agency said.

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