Overview
- Fitch cut Grupo Televisa’s long-term issuer rating to BB+ from BBB−, moving the company to speculative grade.
- Mexico national long-term rating was lowered to AA(mex) from AA+(mex) and the outlook remained Stable.
- Senior unsecured debt ratings in both foreign and local currency were reduced to BB+.
- Fitch forecasts 2025 revenue of about 59 billion pesos, down 5.1% year over year, and EBITDA near 20.4 billion pesos, a 5.7% decline.
- Fitch flagged downside legal risk from a possible FIFA-related fine, while Televisa shares rose about 6.1% to 10.80 pesos, marking a third day of gains.