November 23, 2009 / 4:49 PM / 10 years ago

UPDATE 4-Mexico's Televisa sells $600 mln bond -IFR

(Recasts with bond sale, spread, S&P, updates quotes)

MEXICO CITY, Nov 23 (Reuters) - Mexican media conglomerate Grupo Televisa TLVACPO.MX (TV.N) sold a 30-year, $600 million bond on Monday, IFR, a Thomson Reuters service, reported.

IFR said Credit Suisse was the sole bookrunner of the bond, which carried 245 basis points over U.S. Treasuries. Televisa last borrowed from international debt markets in May 2008, when it issued a $500 million 10-year bond, IFR said.

Fitch Ratings assigned a BBB-plus rating to Televisa’s proposed bond due in 2040. Proceeds will be used by the broadcaster for liability management and general corporate uses, it added.

Fitch’s comments on Televisa came shortly after the ratings agency cut Mexico’s sovereign credit ratings by one notch to BBB from BBB-plus, saying the government’s recently approved tax increases were not enough to address the fiscal deterioration in public accounts.

Standard & Poor’s Ratings Services said on Monday it assigned a ‘BBB+’ senior unsecured debt rating to Televisa’s bond, originally planned at $400 million.

Televisa was not immediately available to comment. Its shares slipped 0.37 percent to 54.12 pesos on the local stock market. (Reporting by Cyntia Barrera Diaz and Robert Campbell; Editing by Dan Grebler) ((R.Campbell@thomsonreuters.com; +52 55 5282 7142; Reuters Messaging: robert.campbell.reuters.com@reuters.net2

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