Moody's Downgrades Televisa's Ratings

TL;DR

Moody's just downgraded Televisa's credit rating, making it more expensive for them to borrow money.

AI Summary

On March 15, 2024, Moody's Investor Service downgraded Grupo Televisa, S.A.B.'s (NYSE:TV, BMV:TLEVISA CPO) long-term corporate family rating to B1 from Ba3. The rating agency also downgraded Televisa's senior unsecured notes to B2 from B1. Moody's cited concerns about the company's leverage and its ability to manage its debt obligations.

Why It Matters

This rating downgrade by Moody's could increase Televisa's borrowing costs and potentially impact its access to future financing.

Risk Assessment

Risk Level: medium — A credit rating downgrade can signal increased financial risk for a company, potentially affecting its stock price and borrowing capabilities.

Key Numbers

• B1 — New Corporate Family Rating (Moody's downgraded Televisa's long-term corporate family rating to B1.)
• Ba3 — Previous Corporate Family Rating (Moody's downgraded Televisa's long-term corporate family rating from Ba3.)
• B2 — New Senior Unsecured Notes Rating (Moody's downgraded Televisa's senior unsecured notes to B2.)

Key Players & Entities

• Moody's Investor Service (company) — Rating agency that downgraded Televisa
• Grupo Televisa, S.A.B. (company) — Company whose ratings were downgraded
• B1 (dollar_amount) — New long-term corporate family rating
• Ba3 (dollar_amount) — Previous long-term corporate family rating
• B2 (dollar_amount) — New senior unsecured notes rating
• B1 (dollar_amount) — Previous senior unsecured notes rating
• March 15, 2024 (date) — Date of the rating action

FAQ

Filing Documents

• ff3152317_6k-grupo.htm (6-K) — 18KB
• image00002.jpg (GRAPHIC) — 8KB
• 0000895345-24-000100.txt ( ) — 31KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULES 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2024 Commission File Number: 001-12610 GRUPO TELEVISA, S.A.B. (Translation of registrant's name into English) Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico City, Mexico (Address of principal executive offices) (Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.) Form 20-F Form 40-F Televisa informs about rating action from Moody's Mexico City, March 15, 2024 - Grupo Televisa, S.A.B. ("Televisa" or the "Company"; NYSE:TV; BMV:TLEVISA CPO) announced today that Moody's Investor Service downgraded its long-term issuer rating and its senior unsecured ratings on the Company to Baa3' from Baa2' with stable outlook. Additionally, Moody's Local Mexico affirmed its long-term issuer rating and its long-term debt rating on the Company of AA.mx' with stable outlook. About Televisa Grupo Televisa S.A.B. ("Televisa") is a major telecommunications corporation which owns and operates one of the most significant cable companies as well as a leading direct-to-home satellite pay television system in Mexico. Televisa's cable business offers integrated services, including video, high-speed data and voice 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 holds a number of concessions by the Mexican government that authorizes it to broadcast programming over television stations for the signals of TelevisaUnivision, Inc. ("TelevisaUnivision"), and Televisa's cable and DTH systems. In addition, Televisa is the largest shareholder of TelevisaUnivision, a leading media company producing, creating, and distributing Spanish-speaking content through several broadcast channels in Mexico, the US and over 50 countries through television networks, cable operators and over-the-top or "OTT" services. 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 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. Readers are cautioned not to place undue reliance on these forward-looking Contact Information Investor Relations www.televisair.com.mx Tel: (52 55) 5261 2445 Rodrigo Villanueva, VP, Head of Investor Relations / rvillanuevab@televisa.com.mx Andrs Audiffred, Investor Relations Director / aaudiffreda@televisa.com.mx Media Relations Rubn Acosta / Tel: (52 55) 5224 6420 / racostamo@televisa.com.mx Alejandra Garcia / Tel: (52 55) 4438 1205 / agarcial@televisa.com.mx SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GRUPO TELEVISA, S.A.B. (Registrant) Dated: March 18, 2024 By: /s/ Luis Alejandro Bustos Olivares Name: Luis Alejandro Bustos Olivares Title: Legal Vice President and General Counsel

View Full Filing

View this 6-K filing on SEC EDGAR