Fitch affirms Telmex

Fitch Ratings said it affirmed Telefonos de Mexico, SAB de CV's (Telmex) foreign and local currency issuer default rating at A-.

The outlook is stable.

Fitch added that the ratings reflect the company's leading position as fixed line telecommunications provider in Mexico, strong cash flow generation, sound financial profile and its increased, yet moderate, exposure to its Latin American operations, particularly Brazil.

The positive factors are balanced against increased competition in Mexico from triple play service offerings, traffic migration from fixed to mobile networks and moderate regulatory risk, the agency noted.

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