S&P rates Opsimex BBB-

Standard & Poor’s said it assigned a global scale BBB- and national scale mxAA+ long-term corporate credit ratings to Operadora de Sites Mexicanos SA de CV (Opsimex).

The outlook is stable.

On April 17, America Movil, SAB de CV approved the spin-off of Opsimex, which will become an operating subsidiary of a new holding company called Telesites.

Opsimex will operate America Movil’s 11,800 telecom tower site infrastructure in Mexico, which can accommodate multiple wireless telecommunications operators, S&P said.

Opsimex’s liquidity is considered adequate based on a view that the company’s sources of liquidity will exceed its uses by at least 1.2x for 2015, the agency said.

The company also is expected to generate steady cash flow from its long-term contracts, which will facilitate access to banks, S&P said.

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