Mexico, May 13, 2016 -- Moody's de Mexico, ("Moody's") has today changed the outlook to negative from stable on the national scale ratings of Telefonica Finanzas Mexico S.A. de C.V. and affirmed the Aa2.mx/Baa2 ratings. The actions follow Moody's announcement on the issuer's parent, Telefonica S.A. ("Telefonica"), on May 12, 2016 that it changed the outlook to negative from stable and affirmed the ratings. The Certificados Bursatiles issued by Telefónica Finanzas México are unconditionally and irrevocably guaranteed by Telefónica.
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