Fitch ups America Movil

Fitch Ratings said it upgraded America Movil, SAB de CV's local-currency issuer default rating to A from A-, foreign-currency issuer default rating to A from A- and its $11.8 billion senior notes rating to A from A-.

The company also has a Mexican national scale rating of AAA(mex).

The outlook is stable.

The ratings reflect America Movil's diversified fixed and wireless operations across Latin America, multiple service platforms, large scale, strong free cash flow, ample financial flexibility and policy of maintaining a sound financial and liquidity profile, Fitch said.

The ratings also consider an expectation that management will maintain a relatively conservative financial profile over the long term, the agency said.

Increased regulatory risk in Mexico and declining prices in mobile voice services tempers the ratings, Fitch added.

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