Moody's rates America Movil notes A2

Moody's Investors Services said it assigned an A2 global scale rating to America Movil SAB de CV's proposed issuance of up to €600 million of senior notes. The outlook is stable.

Proceeds will be used for corporate purposes, including debt refinancing.

The agency said America Movil's ratings are supported by the company's status as Mexico's largest telecom operator, No. 1 position as a regional mobile telecom service provider in Latin America, No. 8 position in Moody's global rated telecom universe in terms of revenues, strong operating cash flow and relatively conservative financial policies.

At the same time, the ratings also factor the increasing competitive and regulatory uncertainties in some of its key markets, such as Mexico, Colombia and Brazil, as well as the risks associates with its growth strategy involving expansion in new markets, such as Europe, Moody's said.

© 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.