Fitch ups Telecom Argentina, Personal

Fitch Ratings said it has taken the following ratings action for Telecom Argentina SA and Telecom Personal SA: Telecom Argentina's foreign currency issuer default rating upgraded to B+ from B, local currency issuer default rating upgraded to B+ from B, senior unsecured notes upgraded to B+/RR4 from B/RR4 and national-scale ratings to upgraded AA-(arg) from A(arg), and Personal's foreign currency issuer default rating upgraded to B+ from B, local currency issuer default rating upgraded to B+ from B, senior unsecured notes upgraded to B+/RR4 from B/RR4 and national-scale ratings upgraded to AA-(arg) from A(arg).

The outlook for the local currency issuer default rating and national-scale rating of Telecom Argentina and Personal remains positive, the agency added.

Fitch said that the rating upgrades and the positive outlook on the local currency issuer default rating and national-scale ratings reflect improved operating performance, stronger credit protection measures and manageable debt maturity profile over the medium term.

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