June 28, 2021 |
Moody's said it downgraded Mexican mass media company Televisa by one notch to Baa2 from Baa1 due to "persistent high leverage" but improved the outlook to stable from negative.
The rating agency based the downgrade on expectations that Televisa will record gross debt around three times EBITDA through 2022 as it focuses on the more capital-intensive Sky and cable businesses in Mexico after it completes a planned merger with Univision.
Televisa's investment-grade credit is still well supported, a
Rating agency cuts the Mexican mass media company by one notch to Baa2