Fitch rates America Movil bond A-

Fitch Ratings said it assigned an A- rating to America Movil SAB de CV’s €2.1 billion exchangeable notes. The notes will be issued through subsidiary America Movil BV, guaranteed by the parent and rank equally with America Movil’s other senior unsecured instruments. Fitch rates America Movil A-.

The notes are a zero-coupon instrument maturing in three years and are convertible into 672.4 million Koninklijke KPN NV shares. This allotment corresponds to 16% of the outstanding share capital of KPN and will reduce America Movil’s equity stake in the company to about 4% from about 20% as of Dec. 31.

America Movil’s other ratings are unchanged, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.