S&P and Fitch Ratify Televisa's BBB+ Ratings

Rhea-AI Summary

Grupo Televisa, S.A.B. announced on June 24, 2020, that both Standard & Poor's and Fitch Ratings have reaffirmed its BBB+ credit rating. The agencies praised Televisa for its strong liquidity, diversified business model, and manageable debt maturity schedule with no major repayments due in the near term. This solid rating highlights the company's robust credit profile despite ongoing uncertainties due to the COVID-19 pandemic. Investors are advised to consider these ratings in the context of the company’s forward-looking statements concerning potential impacts from the pandemic.

Positive

• Televisa retains BBB+ ratings from both Standard & Poor's and Fitch Ratings.
• Strong liquidity position and diversified business model praised by rating agencies.
• Comfortable debt maturity schedule with no major amortizations due soon.

Negative

• Forward-looking statements caution against reliance due to uncertainty from COVID-19.

MEXICO CITY, June 24, 2020 /PRNewswire/ -- Grupo Televisa, S.A.B. ("Televisa" or the "Company") informs that on June 19, 2020, Standard & Poor´s Global Ratings ratified the BBB+ ratings for the Company and on June 24, 2020, Fitch Ratings also ratified the BBB+ ratings for the Company.

In their reports, both international credit rating agencies highlighted Televisa's exceptional liquidity position, diversified business model, comfortable debt maturity schedule with no major amortizations in the near term, and solid credit profile.

Disclaimer 

This press release contains forward-looking statements regarding the Company's results and prospects. Actual results could differ materially from these statements. The forward-looking statements in this press release should be read in conjunction with the factors described in "Item 3. Key Information – Forward Looking Statements" in the Company's Annual Report on Form 20 - F, which, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this press release and in oral statements made by authorized officers of the Company. Statements contained in this release relating to the COVID-19 outbreak, the impact of which on our business performance and financial results remains inherently uncertain, are forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

About Televisa

Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico. Televisa distributes the content it produces through several broadcast channels in Mexico and in over 70 countries through 25 pay-tv brands, television networks, cable operators and over-the-top or "OTT" services. In the United States, Televisa's audiovisual content is distributed through Univision Communications Inc. ("Univision") the leading media company serving the Hispanic market. Univision broadcasts Televisa's audiovisual content through multiple platforms in exchange for a royalty payment. In addition, Televisa has equity and warrants which upon their exercise would represent approximately 36% on a fully-diluted, as-converted basis of the equity capital in Univision Holdings, Inc., the controlling company of Univision. Televisa's cable business offers integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and international carriers. Televisa owns a majority interest in Sky, a leading direct-to-home satellite pay television system and broadband provider in Mexico, operating also in the Dominican Republic and Central America. Televisa also has interests in magazine publishing and distribution, professional sports and live entertainment, feature- film production and distribution, and gaming.

 

Investor Relations
Carlos Madrazo / Tel: (52 55) 5261 2445 / cmadrazov@televisa.com.mx
Santiago Casado / Tel: (52 55) 5261 2438 / scasado@televisa.com.mx

Media Relations
Rubén Acosta / Tel: (52 55) 5224 6420 / racostamo@televisa.com.mx
Teresa Villa / Tel: (52 55) 4438 1205 / atvillas@televisa.com.mx

www.televisair.com

View original content:http://www.prnewswire.com/news-releases/sp-and-fitch-ratify-televisas-bbb-ratings-301083303.html

SOURCE Grupo Televisa, S.A.B.

FAQ

What are the latest ratings for Televisa (TV) by credit agencies?

On June 24, 2020, both Standard & Poor's and Fitch Ratings reaffirmed Televisa's BBB+ ratings.

Why did Standard & Poor's and Fitch Ratings maintain their ratings for Televisa?

They highlighted Televisa's strong liquidity, diversified business model, and manageable debt maturity schedule.

What does the BBB+ rating for Televisa (TV) imply for investors?

It indicates a stable credit profile, suggesting moderate risk for investors.

How is Televisa handling its debt amid the COVID-19 pandemic?

Televisa has a comfortable debt maturity schedule with no major repayments due in the near term.