Fitch rates Grupo Televisa notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Grupo Televisa, SAB's proposed up to $500 million senior unsecured notes due in 2049.

The proceeds from the issuance are expected to be used for general corporate purposes, including among others, debt repayment, Fitch said.

The ratings reflect its diversified business profile into content, cable and sky operations that enables stability of cash flow generation, the agency explained.

The company maintains a strong market position in the Mexican broadcasting segment, underpinned by its strategic focus on robust content generation, Fitch said.

The subdued growth outlook for its free-to-air TV operation, negative global secular trends for Pay-TV and its high leverage levels temper the ratings, the agency said.

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