Fitch Affirms and Withdraws Telecom Argentina's International Ratings

  Fitch Affirms and Withdraws Telecom Argentina's International Ratings

Business Wire

BUENOS AIRES, Argentina -- April 29, 2013

Fitch Ratings has affirmed and withdrawn Telecom Argentina S.A. (TEO)'s local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 These international ratings have been withdrawn as they are no longer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'.

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682323

Parent and Subsidiary Rating Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685552

Corporate Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=684460

National Ratings Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=595885

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=789939

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.
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OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN
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ON THE FITCH WEBSITE.

Contact:

Fitch Ratings
Primary Analyst
Fernando Torres, +54-11-5235-8124
Director
Fitch Ratings Argentina S.A.
Sarmiento 663 7 floor
Buenos Aires, Argentina
or
Secondary Analyst
Sergio Rodriguez, CFA, +52-81-8399-9100
Senior Director
or
Committee Chairperson
Cecilia Minguillon, +54-11-5235-8123
Senior Director
or
Media Relations
Elizabeth Fogerty, +1-212-908-0526
elizabeth.fogerty@fitchratings.com
 
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