March 25, 2020 / 12:59 AM / 7 days ago

Mexico's Televisa draws from revolving credit amid coronavirus outbreak

MEXICO CITY, March 24 (Reuters) - Mexican broadcaster Televisa said on Tuesday it has drawn down 14.771 billion pesos ($593 million) from its revolving credit facility to increase its cash position and preserve financial flexibility in response to the economic impacts of coronavirus.

The company said in a statement the step was meant to be a "prudent and precautionary measure... in light of current uncertainty in the global markets resulting from the COVID-19 outbreak." ($1 = 24.9052 Mexican pesos) (Reporting by Daina Beth Solomon; Editing by Stefanie Eschenbacher)

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