Fitch's America Movil, Telemex ratings unaffected

Fitch Ratings said it does not anticipate any material change in America Movil SA de CV's (BBB+/stable) and Telefonos de Mexico SA de CV's ("Telemex"; BBB+/stable) ratings following the announcement to acquire certain international assets from Verizon Communications Inc.

America Movil is expected to finance the acquisitions with cash, without incurring in additional debt, Fitch said. At the end of 2005, America Movil had about $1.2 billion in cash, and free cash flow is expected to near $2.6 billion in 2006 before acquisitions, dividends and share buybacks.

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