Telefonica Holding de Argentina S.A. - Credit Update - 2009/10/26 - Fitch Research

Report title: Telefonica Holding de Argentina S.A.

from Fitch Research
5 page (2454 word) report published Oct 26, 2009

Price $165.00 available for immediate download

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...La calidad crediticia de Telef=nica Holding de Argentina S.A. (THA) depende en gran parte de la calidad crediticia de su controlada indirecta Telef=nica de Argentina S.A. (TASA, AA+(arg) en escala nacional), ya que en los ·ltimos a±os su generaci=n de fondos procedi= exclusivamente de los honorarios de administraci=n. THA no registra deudas financieras a junio'09 luego de cancelados en 2007 los prTstamos que detentaba con relacionadas. La fuente de fondos de THA provenfan hasta abril'08 de los honorarios de administraci=n cobrados a TESA Argentina (aproximadamente $ 30 MM anuales en los ·ltimos dos a±os); estos fondos cubrfan holgadamente sus obligaciones. Se espera que de existir excedentes de caja en THA, se destinen a distribuir dividendos....

Report Type:

Credit Update

Company(ies):

Telefonica Holding de Argentina S.A.

Ticker(s):

CITI

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Also from Fitch Research

Fitch Affirms Telefonica at 'A-'; Outlook Stable $85.00
Fitch confirma en AA+(arg) los titulos de TASA $85.00
Fitch Argentina confirmo en Categoria 3 las acciones de THA $85.00
calif. TASA s/cam dps de anun. de of. de comp. en ef. de sus ON $85.00
Fitch: Europe's Mature Markets Pose Risk to Telecoms Operators $85.00
Telefonica Holding de Argentina S.A. $425.00
Fitch confirmo en Categoria 3 las acciones de THA $85.00
Telefonica Holding de Argentina S.A. (THA) $165.00

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