S&P affirms America Movil

Standard & Poor's said that it affirmed the A- global-scale long-term ratings on America Movil SAB de CV and Telefonos de Mexico, SAB de CV.

The outlook is stable.

The ratings reflect America Movil's leading position as a telecommunications provider in Latin America, its solid profitability and the expectation that the company will maintain its robust cash flow generation and its strong financial profile despite intense competition in the telecommunication industry in Latin America, the agency said.

The ratings on Telefonos de Mexico are aligned with the ratings on its parent company, reflecting the view of its financial prospects under America Movil ownership, the agency added.

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