...America Movil S.A.B. de C.V.'s (AMX) ratings reflect its strong market position as the largest telecom operator in Latin America with well-established multiple service platforms and solid network competitiveness, as well as a high degree of geographical cash flow diversification. Mexico is AMX's largest market, representing 29% of its total EBITDA during first- half 2017 (1H17), followed by Brazil with 21%, Europe with 11% and Colombia with 10%. The company boasts relatively stable and robust operational cash flow generation, which also enables ample financial flexibility and solid liquidity. Ratings are tempered by high competitive and regulatory pressures in some of its key markets, increased leverage compared with solid historical levels and mature market conditions....
