Fitch ups Telmex, Televisa

Fitch Ratings said it has upgraded the long-term foreign currency ratings of Mexican fixed-line telecommunications operator Telefonos de Mexico SA de CV (Telmex) and Mexican television broadcaster Grupo Televisa SA de CV (Televisa) to BBB from BBB-.

The outlook on the foreign currency ratings of both companies is stable.

Fitch said these rating actions follow the announcement that Fitch has assigned country ceiling ratings above the long-term foreign currency rating of the sovereign for certain countries across the globe, including Mexico. Telmex and Televisa are the only Latin American corporates affected by the new country ceilings.

The long-term local currency ratings of Telmex at A- and Televisa at BBB have been affirmed by Fitch.

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