Fitch rates Total Play notes BB-

Fitch Ratings said it assigned a BB- rating to Total Play Telecomunicaciones, SA de CV's proposed senior notes issuance of up to $500 million.

Proceeds from the issuance will be used to finance the company's growing expansion needs, for working capital and to prepay debt.

Fitch noted Total Play benefits from the stable and recurrent revenue of the Pay-TV and broadband business. Its intensive network investment positions it as an important player in the industry.

“The ratings are tempered by its high leverage and lower scale, market share and diversification relative to its investment grade peers,” Fitch said in a news release.

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