S&P: America Movil notes A-

Standard & Poor's said it assigned an A- global scale and mxAAA national scale ratings to America Movil SAB de CV's Ps. 20 billion senior unsecured notes due 2022.

The company will use the proceeds for general corporate purposes.

The ratings reflect the company's strong business risk profile and modest financial risk profile, S&P said.

The ratings also consider its leading position in the Latin American telecom industry, solid profitability and an expectation that it will maintain robust cash flow generation despite intense competition in some of its markets, the agency said.

Partly offsetting these factors is the company's cash flow generation, which is somewhat concentrated in Mexico, S&P said.

There also are more stringent regulations in the markets where the company operates and continuing threats to its wireline business from wireless substitution and cable, the agency said.

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