S&P affirms Unity Media

Standard & Poor's said it affirmed its B long-term corporate credit rating on Unity Media GmbH.

The outlook remains positive.

The agency said that the affirmation follows the company's announcement that it is selling its subsidiaries Tele Columbus Kabel Holding GmbH and Tele Columbus GmbH & Co. KG (B/Watch negative) for an undisclosed sum to Orion Cable GmbH, which is the parent of the cable group ewt Multimedia GmbH & Co. KG.

According to S&P, the ratings on Unity Media remain constrained by its very high leverage and its expectations of substantial cash outflows in fiscal 2006 and in particular the significant financial risks from Unity's subsidiary Arena, through which Unity commercially exploits German football league TV programming rights.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.