S&P affirms Central European Media

Standard and Poor's said that it affirmed its B long-term corporate credit rating on Central European Media Enterprises Ltd.

The outlook is negative.

The agency said it also affirmed at B the debt ratings on Central European Media's $475 million of senior convertible notes due 2013, €245 million of notes due 2012, and €150 million of notes due 2014.

In addition, the agency said it assigned a B issue rating to the €150 million bond issue due 2016 announced by the company, in line with the corporate credit rating.

S&P noted that the affirmation follows Central European Media's launch of a €150 million fixed-rate bond issue due in 2016, which the group states will mainly contribute to the refinancing of its €127.5 million European Bank for Reconstruction and development loans.

© 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.