S&P might lift Unitymedia

S&P said it placed its BB- long-term issuer credit ratings on Unitymedia GmbH on CreditWatch with positive implications.

The agency also placed on CreditWatch positive the BB- issue ratings on Unitymedia's senior secured debt and B ratings on the company's senior notes.

S&P said the CreditWatch placement points to the potential of ratings upside on Liberty Global's plans to sell Unitymedia to Vodafone Group plc, a higher-rated entity.

“We think that Unitymedia will be key to Vodafone's fixed-and-mobile convergence strategy in Germany and that its creditworthiness could benefit from being part of a higher-rated group,” the agency said in a news release.

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