Fitch Affirms and Withdraws Telecom Argentina's International Ratings

Mon Apr 29, 2013 6:02pm EDT

(The following statement was released by the rating agency) BUENOS AIRES, April 29 (Fitch) Fitch Ratings has affirmed and withdrawn Telecom Argentina S.A. (TEO)'s local currency Issuer Default Rating (IDR) at 'B+' and its foreign currency IDR at 'B-'. These international ratings have been withdrawn as they are no longer considered by Fitch to be analytically meaningful, as the company does not have debt issuances in the international debt capital markets. Fitch's current National Scale Ratings for Telecom Argentina are as follows: --National long-term rating 'AA+(arg)'; --National equity rating '1'. Contact: Primary Analyst Fernando Torres Director Fitch Ratings Argentina S.A. +54-11-5235-8124, Sarmiento 663 7 floor Buenos Aires, Argentina Secondary Analyst Sergio Rodriguez, CFA Senior Director +52-81-8399-9100 Committee Chairperson Cecilia Minguillon Senior Director +54-11-5235-8123 Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: elizabeth.fogerty@fitchratings.com. Additional information is available 'www.fitchratings.com'. Applicable Criteria and Related Research: --'Rating Telecom Companies - Sector Credit Factors', Aug. 9, 2012; --'Parent and Subsidiary Rating Linkage (Fitch's Approach to Rating Entities Within a Corporate Group Structure)', Aug. 12, 2011; --'Corporate Rating Methodology', Aug. 12, 2012; --'National Ratings Criteria', Jan. 19, 2011. Applicable Criteria and Related Research Rating Telecom Companies here Parent and Subsidiary Rating Linkage here Corporate Rating Methodology here National Ratings Criteria here Additional Disclosure Solicitation Status here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.