Moody's: America Movil unchanged

Moody's Investors Service said the A2 domestic-currency and A3 foreign-currency senior debt ratings and stable outlook of America Movil, SAB de CV remain unchanged following the announcement that it has entered into a shareholders' agreement with the Austrian Government, through ÷sterreichische Industrieholding AG, to take control of Telekom Austria AG (Baa2/stable).

In the agency's estimates, America Movil's leverage will not materially increase from its current 2 times level at the end of 2013 since the maximum additional amount that the company is likely to disburse as a result of this transaction is around €715 million, which can be funded with the cash balance it currently holds.

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