Fitch: TV Azteca notes BB-

Fitch Ratings said it assigned a BB- rating to TV Azteca, SAB de CV's proposed $300 million of senior notes due 2018.

The company also has a long-term issuer default rating of BB- and local-currency issuer default rating of BB-.

The proceeds will be used to repay existing indebtedness and general corporate uses.

The outlook is stable.

The ratings reflect the company's position as the second largest TV broadcaster in Mexico with national presence and one of the largest Spanish-speaking TV companies worldwide, Fitch said.

The ratings also consider the company's financial profile and strong cash generation, the agency said.

The ratings are limited by the mature stage of the industry, high competition from traditional and new distribution platforms, limited revenue diversification base and the company's debt structure and financial flexibility, Fitch added.

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