Moody's raises Unitymedia outlook to positive

Moody's Investors Service said it changed the outlook on the ratings of Unitymedia GmbH to positive from stable.

According to the agency, the existing ratings remained unchanged: corporate family rating at B3, €1.35 billion senior secured notes (€1.28 billion currently outstanding) at B2, €215 million senior notes at Caa2, €235 million senior notes at Caa2 and $151 million senior notes at Caa2.

The change in the outlook primarily reflects (i) good operating performance of Unitymedia's core cable business and (ii) reduced business and financial risk associated with arena Sport Rechte and Marketing GmbH, Unitymedia's subsidiary, following a resolution of the Federal Cartel Office on July 19 to sub-license Bundesliga rights to Premiere AG, the agency noted.

© 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.