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Bulletin: Correction: Grupo Televisa S.A.B. Ratings Unaffected By COFECO's Rejection Of Planned Purchase Of 50% Stake In Iusacell Feb 12
Standard & Poors, Feb 2012
Abstract
MEXICO CITY (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services said today that its ratings on Grupo Televisa S.A.B. (BBB+/Stable/--) are unaffected by the rejection by Mexico's Federal Competition Commission (COFECO) of the conversion of its holdings of Grupo Iusacell S.A. de C.V. debt to equity. On April 7, 2011, Televisa announced its agreement with Iusacell to invest $37.5 million in equity and about $1.6 billion in convertible debt in the latter, subject to regulatory approval. The debt earns a coupon of 2.0% and has a conversion date on or before December 2015. Rejection of the planned deal could prevent Televisa from moving into the wireless market without having to build its own network, but it will not...
Companies mentioned in this report are: Grupo Televisa S.A.B.,Telefonica S.A.,Grupo Iusacell S.A. de C.V.,Univision Communications Inc.,America Movil S.A.B. de C.V.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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