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Fitch: America Movil bonds A
Fitch Ratings said it assigned the following ratings to the Japanese yen bonds issued by America Movil, SAB de CV:
• ¥6.9 billion of 1.23% first series Japanese yen bonds due October 2014 at A; and
• ¥5.1 billion of 1.53% second series Japanese Yen Bonds due October 2016 also at A.
Proceeds from the bonds are expected to be used for general corporate uses and capital expenditures including network equipment improvement, the agency said.
America Movil's ratings are supported by diversified fixed and wireless operations across Latin America, multiple service platforms, large scale, strong free cash flow, ample financial flexibility and policy of having a sound financial and liquidity profile, Fitch added.
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