AMX RMB Bond Sees A2 Rating

Moody’s has assigned an A2 rating to America Movil’s (AMX) proposed RMB1.9bn ($300m) of senior notes. Proceeds are expected to be used for yuan capital expenditure funding. The outlook is stable. The proposed notes will not be guaranteed by Radio Movil Dipsa, AMX’s largest subsidiary which has provided guarantees to AMX’s previously-issued unsecured notes. Since October 2011, AMX has been issuing senior notes without this guarantee, the agency says. AMX has mandated HSBC to arrange 2-day fixed-income investor meetings in Asia starting today.