S&P: America Movil notes A-

Standard & Poor’s said it assigned an A- rating to America Movil SAB de CV’s €850 million 1˝% senior unsecured notes due 2024 and its €650 million 2 1/8% senior unsecured notes due 2028.

The proceeds will be used for general corporate purposes.

The ratings reflect the company’s strong competitive position based on an expectation that the company will maintain its leading market position and strong brand recognition in most of the markets where it operates, S&P said.

The agency also said it believes it will maintain the network coverage throughout Latin America, its efficient operations and its product and geographic diversification.

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