Fitch affirms ETB

Fitch Ratings said it affirmed Empresa de Telecomunicaciones de Bogota SA's (ETB) long-term foreign currency and local currency issuer default ratings at BB+.

The outlook is stable.

“The rating affirmation reflects ETB's positive EBITDA performance as a result of a continued successful cost control strategy in the context of a 3.4% contraction of operational revenue growth during 2018,” the agency said in a news release.

“The EBITDA performance and lower than anticipated capex expenditures during the period reduced financing needs.”

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