Fitch affirms Televisa

Fitch Ratings said it has affirmed the ratings of Grupo Televisa, SAB as follows: long-term issuer default rating at BBB+; local currency issuer default rating at BBB+; and national-scale long-term rating at AAA(mex).

The outlook is stable.

In addition, Fitch said it affirmed the following ratings:

• Outstanding balance of $72 million of 8.0% senior notes due 2011 (originally $300 million) at BBB+;

• $500 million 6% senior notes due 2018 at BBB+;

• $600 million 6.625% senior notes due 2025 at BBB+;

• $300 million 8.5% senior notes due 2032 at BBB+; and

• 4.5 billion pesos of 8.49% senior notes due 2037 at BBB+ and AAA(mex).

According to Fitch, Televisa's ratings reflect its strong business profile across operating segments, solid cash flow generation, extended maturity profile and ample liquidity.

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