Moody's rates America Movil notes A3

Moody's Investors Service said it assigned an A3 long-term foreign-currency rating to America Movil, SAB de CV's $500 million senior unsecured floating rate notes due 2008.

The outlook is stable.

The rating is based on the growth opportunities in the Latin American wireless market, the company's position as the leading provider of these services in the region, its strong and improving cash flow from operations and low leverage with adjusted debt-to-EBITDA of below 1.2x in 2006, Moody's said.

The ratings also incorporate the financial impact on America Movil's leverage and overall credit metrics of the acquisition of Verizon in the Dominican Republic and the expected acquisition of Verizon in Puerto Rico, the agency added.

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