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S&P ups Unitymedia from junk
S&P said it upgraded Unitymedia GmbH to BBB from BB- after the company was acquired by Vodafone. S&P also raised the rating on the company’s senior secured notes to BBB from BB- and senior unsecured notes to BBB from B.
“Given that we expect Unitymedia to be fully integrated into Vodafone Germany as a core operating entity, we will stop assessing it on a stand-alone basis,” said S&P in a press release.
The outlook is stable, which mirrors the outlook on Vodafone.
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