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Moody's rates Vrio on footprint, market share in Latin America

Moody's assigned Vrio Corp. a Ba2 corporate family rating March 20, citing the company's "significant" footprint and market share in Latin America.

The rating agency also assigned Ba2 ratings to its proposed $1.5 billion aggregate notes made up of 10-year senior unsecured notes and five-year senior unsecured notes denominated in Argentine pesos. The rating of the proposed notes assumed that the final transaction documents will not be materially different from draft legal documentation reviewed by Moody's.

Both U.S. dollar and Argentine peso notes will be issued together by Vrio Finco 1 LLC and Vrio Finco 2 Inc. and guaranteed by Vrio Corp.

The ratings outlook is stable.