Fitch upgrades three Mexican companies

Fitch Ratings said it upgraded the long-term foreign currency debt rating of America Movil, Kimberly Clark de Mexico and Telmex following Wednesday's upgrade of the foreign currency rating of the United Mexican States to BBB from BBB- and country to BBB+ from BBB.

Upgraded foreign currency debt ratings include America Movil SA de CV's to BBB+ from BBB, Kimberly-Clark de Mexico SA de CV's to A- from BBB+ and Telefonos de Mexico SA de CV's (Telemex) to BBB+ from BBB.

The outlook is stable.

Mexico's upgrade is underpinned by the consolidation of macroeconomic stability in Mexico, the continued improvement in its external accounts and international liquidity and a further decline in its external debt burden, the agency said.

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