Fitch affirms Telmex

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

The outlook is stable.

Ratings reflect the company's leading position as a fixed line telecommunications provider in Mexico, strong cash flow generation and sound financial profile, the agency said.

Concerns include heightened competition, traffic migration from fixed to mobile networks and increased regulatory risk, the agency noted.

For the 12 months ended Sept. 30, total debt-to- EBITDA was 1.7 times and net debt-to-EBITDA ratio was 1.4x.

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