Fitch Affirms Personal Rating at A
Credit ratings agency Fitch Argentina affirmed its A(arg) rating on bonds issued by local mobile operator Personal, Fitch said in a statement.
The rating covers two series of the company's long-term notes for US$300mn due 2008 and 2010.
Fitch Argentina said that the company's credit quality is backed by a strong positioning in the local mobile telephony market. According to Fitch, Personal has a strong financial profile and controlled debt levels.
Personal is the mobile unit of local telecoms operator Telecom Argentina.
The company's revenues for Q3 totaled 1.37bn pesos (US$437mn), an increase of 32% from 1.04bn pesos in the year-ago quarter.
Personal ended the period with 11.6mn subscribers, including its operations in Argentina and Paraguay, an increase of 35% compared to 8.6mn clients the same time last year.
Posted to the site on 15th November 2007