Industry Report Card: Latin American Telecom And Media Companies Poised To Expand On Higher Data Demand, But Competition Will Remain Intense Jul 12
Standard & Poors, July 2012
Abstract
Standard & Poor's Ratings Services' credit outlook for the Latin America telecommunications and media sectors is one of relative stability for the majority of rated companies, as nine of the 16 companies we rate have stable outlooks. While we believe the large players will take advantage of their strong market positions to maintain margins above 30% due to higher demand for data communication services, thanks to strong growth in Mexico and Brazil, smaller companies would continue facing intense competition, which will weaken their financial results. Growth in the region will soften in 2012 due to a projected lower annual GDP growth of about 3.6% (compared with 4.6% in 2011). Higher demand for data will also drive a hike in capex...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Telefonica Chile S.A.
- Grupo Televisa S.A.B.
- Net Servicos de Comunicacao S.A.
- Globo Comunicacao e Participacoes S.A.
- RBS TV Comunicacoes S.A.e Empresas Combinadas
- Satelites Mexicanos S.A. de C.V.
- Arte Grafico Editorial Argentino S.A.
- Empresa Nacional de Telecomunicaciones S.A.
- Alestra S. de R.L. de C.V.
- Corporacion Interamericana de Entretenimiento S.A.B. de C.V.
- Oi S.A.
- America Movil S.A.B. de C.V.
- Axtel S.A.B. de C.V.
- Maxcom Telecomunicaciones S.A.B. de C.V.
- Telefonica Finanzas Mexico S.A. de C.V.
- Companhia de Telecomunicacoes do Brasil Central
- Trilogy International Partners LLC
- Columbus International Inc.
- Telefonica Moviles Chile S.A.
- Telefonica Brasil S.A.
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