Moody’s downgrades Televisa (NYSE: TV) to Ba2 but keeps Stable outlook
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Grupo Televisa reported that Moody’s Ratings downgraded its senior unsecured and senior unsecured shelf ratings to Ba2 from Ba1. Moody’s also assigned Televisa a Ba2 corporate family rating and set the Rating Outlook to Stable, indicating no current expectation of further near-term rating changes.
The company highlights its position as a major Mexican telecommunications provider, with extensive cable networks, a direct-to-home satellite pay TV platform, and a significant equity stake in TelevisaUnivision, which distributes Spanish-language content across Mexico, the U.S., and more than 50 countries.
Positive
- None.
Negative
- Moody’s downgrade to Ba2 from Ba1 for Televisa’s senior unsecured and shelf ratings, along with a Ba2 corporate family rating, represents a weaker credit assessment that may affect future borrowing costs, even though the Rating Outlook is Stable.
Insights
Moody’s cuts Televisa to Ba2 but keeps outlook Stable.
Moody’s Ratings lowered Televisa’s senior unsecured and shelf ratings to Ba2 from Ba1 and assigned a Ba2 corporate family rating. This places the company more clearly in speculative-grade territory, which can influence how fixed-income investors assess its debt.
The Stable Rating Outlook signals Moody’s currently does not anticipate further near-term downgrades based on available information. Actual financing costs and market access will depend on investor appetite for Ba2-rated issuers and broader credit conditions.
Key Figures
Moody’s senior unsecured rating: Ba2 from Ba1
Corporate family rating: Ba2
Rating outlook: Stable
3 metrics
Moody’s senior unsecured rating
Ba2 from Ba1
Televisa senior unsecured and shelf ratings
Corporate family rating
Ba2
Moody’s CFR for Televisa
Rating outlook
Stable
Moody’s outlook on Televisa ratings
Key Terms
senior unsecured ratings, senior unsecured shelf ratings, corporate family rating, Rating Outlook, +1 more
5 terms
senior unsecured ratings financial
"Moody’s Ratings downgraded its senior unsecured ratings and senior unsecured shelf ratings"
Senior unsecured ratings are credit scores assigned to a company's debt that has no collateral and is repaid before other unsecured obligations if the company can’t meet all its debts. Investors use these ratings to gauge the likelihood of getting interest and principal back; think of it as a position in a queue and a reputation grade that helps decide how much risk and return to expect when lending money.
senior unsecured shelf ratings financial
"downgraded its senior unsecured ratings and senior unsecured shelf ratings to ‘Ba2’"
corporate family rating financial
"Moody’s has also assigned a ‘Ba2’ corporate family rating (CFR) to Televisa"
A corporate family rating is a single credit score assigned to an entire group of related companies that reflects the likelihood the group can meet its financial obligations. It looks at the combined strength of the parent and core subsidiaries rather than any one bond or loan. Investors use it like a household credit score: it helps judge overall default risk, influences borrowing costs and bond prices, and guides decisions about exposure to the whole corporate group.
Rating Outlook financial
"The Rating Outlook changed to Stable"
A rating outlook is an analyst or credit agency's short- to medium-term prediction about whether a current credit or stock rating is likely to improve, worsen, or stay the same. It matters to investors because it signals potential changes in risk and value—like a weather forecast for a credit or share, helping investors prepare for possible downgrades, upgrades, or stability that could affect prices and borrowing costs.
over-the-top or OTT services technical
"over 50 countries through television networks, cable operators, and over-the-top or OTT services"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June, 2026
Commission File Number: 001-12610
GRUPO TELEVISA, S.A.B.
(Translation of registrant’s name into English)
Av. Vasco de Quiroga No. 2000, Colonia Santa Fe 01210 Mexico City, Mexico
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F ☒ Form 40-F ☐
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Investor Relations
PRESS RELEASE
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Televisa informs about rating action from Moody’s
Mexico City, June 12, 2026 – Grupo
Televisa, S.A.B. (“Televisa” or the “Company”; NYSE: TV; BMV: TLEVISA CPO) announced today that Moody’s Ratings downgraded its senior unsecured ratings and senior unsecured shelf ratings to ‘Ba2’ from ‘Ba1’. Moody’s has also assigned a ‘Ba2’
corporate family rating (CFR) to Televisa. The Rating Outlook changed to Stable.
About Televisa
Grupo Televisa S.A.B. (“Televisa”) is a major telecommunications company that owns and operates one of the most significant cable
network groups as well as a leading direct-to-home satellite pay television system in Mexico. Televisa’s cable networks offer integrated services, including high-speed data, video, mobile, and voice to residential and commercial customers as well
as telecommunications managed services to domestic and international enterprises. Televisa also offers pay television and broadband services through its direct-to-home satellite system. Televisa holds a number of concessions by the Mexican
government that authorizes it to broadcast programming over television stations for the signals of TelevisaUnivision, Inc. (“TelevisaUnivision”), and Televisa’s cable networks and satellite system. In addition, Televisa is the largest shareholder
of TelevisaUnivision, a leading media company producing, creating, and distributing Spanish-speaking content through several broadcast channels in Mexico, the U.S. and, over 50 countries through television networks, cable operators, and
over-the-top or OTT services.
Disclaimer
This press release contains forward-looking statements regarding the Company’s results and prospects. Actual results could differ
materially from these statements. The forward-looking statements in this press release should be read in conjunction with the factors described in “Item 3. Key Information – Forward-Looking Statements” in the Company’s Annual Report on Form 20-F,
which, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this press release and in oral statements made by authorized officers of the Company. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise.
Contact Information
Investor Relations
www.televisair.com.mx
Tel: (52 55) 5261 2445
Rodrigo Villanueva, VP, Head of Investor Relations / rvillanuevab@televisa.com.mx
Andrés Audiffred, Investor Relations Director / aaudiffreda@televisa.com.mx
Nicolás Espinoza, Investor Relations Manager/ nespinozam@televisa.com.mx
Media Relations
Tel: (52 55) 5224 6420
Rubén Acosta, Communications General Director / racostamo@televisaunivision.com
Florencia López de Rodas, Communications and Media Director / flopezd@televisa.com.mx
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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GRUPO TELEVISA, S.A.B.
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(Registrant)
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Date: June 15, 2026
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By:
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/s/ Luis Alejandro Bustos Olivares
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Name:
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Luis Alejandro Bustos Olivares
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Title:
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Legal Vice President and General Counsel
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FAQ
What rating change did Moody’s make for Grupo Televisa (TV)?
Moody’s Ratings downgraded Grupo Televisa’s senior unsecured and senior unsecured shelf ratings to Ba2 from Ba1. Moody’s also assigned a Ba2 corporate family rating and set the Rating Outlook to Stable, indicating a steady view at this new level.
What is Televisa’s current corporate family rating from Moody’s?
Televisa now holds a Ba2 corporate family rating from Moody’s. This reflects Moody’s view of the company’s overall credit profile on a consolidated basis, complementing the Ba2 ratings on its senior unsecured and senior unsecured shelf instruments.
Did Moody’s change the outlook on Televisa’s ratings?
Yes. Moody’s set Televisa’s Rating Outlook to Stable. A Stable outlook generally means Moody’s does not currently anticipate an upgrade or downgrade in the near term, assuming the company’s business and financial profile remain broadly consistent with expectations.
Which Televisa instruments were affected by Moody’s downgrade?
Moody’s downgraded Televisa’s senior unsecured ratings and senior unsecured shelf ratings to Ba2 from Ba1. These ratings apply to the company’s unsecured debt obligations and shelf registration capacity, shaping investor perception of credit risk for those instruments.
What type of business does Grupo Televisa (TV) operate?
Televisa operates major telecommunications and pay TV businesses in Mexico, including cable networks and a direct-to-home satellite system. It provides broadband, video, mobile, and voice services, and is the largest shareholder of TelevisaUnivision, a leading Spanish-language media company.
How is Televisa connected to TelevisaUnivision?
Televisa is the largest shareholder of TelevisaUnivision, which produces and distributes Spanish-language content in Mexico, the United States, and over 50 countries. Televisa also holds concessions to broadcast TelevisaUnivision signals over its television stations and distribution platforms in Mexico.