Fitch rates ETB notes BBB-

Fitch Ratings said it expects to assign a BBB- rating to Empresa de Telecomunicaciones de Bogota SA ESP's (ETB) proposed senior unsecured notes due 2023.

The proceeds will be used to fund the company's capital expenditure plan, Fitch said.

The company has foreign- and local-currency issuer default ratings of BBB- and a stable outlook.

The ratings are supported by the company's sound financial profile, consistent track record of cash from operations generation and its leading positions in local and broadband services in Bogota, Fitch said.

The ratings are tempered by increased competition, mobile substitution and limited geographical footprint and service revenue diversification, the agency said.

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