S&P affirms Cablemas

Standard & Poor's said it affirmed the BB+ global scale corporate credit and senior unsecured ratings on Cablemas SA de CV.

The outlook is stable.

S&P said the rating reflects the company's significant cable-TV subscriber base, high-quality network and leading role in the consolidating cable-TV sector in Mexico.

Offsetting factors include considerable competition, foreign-exchange risks and heavier investments necessary to upgrade the network to keep pace with technology, the agency noted.

The rating also reflects the 58.3% participation of Grupo Televisa SAB (BBB+/stable) in Cablemas' equity, the agency said.

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