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Credit ratings agency Fitch voiced concerns on Thursday that TV Azteca’s legal battle with American Tower Corp was “not positive or favorable” for the Mexican broadcaster’s credit profile, two days after Reuters reported the lawsuit.
MATC Infraestructura, a unit of cell tower owner and operator American Tower (AMT.N), sued TV Azteca (AZTECACPO.MX) for nearly $97 million in a New York state court, saying the company has defaulted on a loan.
In an interview, Alberto Moreno, a senior director at Fitch, said the agency will likely evaluate what the case means for TV Azteca’s credit rating.
“Our sense is obviously this is not favorable or positive for the credit profile of the company,” he said. “We will continue monitoring.”