S&P: TVN on positive watch

Standard & Poor’s said it placed its B+ long-term corporate credit rating on TVN SA and its B- long-term corporate credit rating and issue ratings on Polish Television Holding BV on Creditwatch with positive implications.

The Creditwatch placement follows Scripps Networks Interactive Inc.'s (BBB/stable) announcement on March 16 that it will acquire N-Vision BV from Canal+ and ITI Group for a cash consideration of €584 million.

N-Vision is the parent company of Polish Television Holding, which owns 52.7% of TVN.

The agency said it understands that Scripps must launch a tender offer for TVN's stock to increase its controlling stake to 66% in accordance with the Polish securities laws. The acquisition is subject to regulatory approval.

© 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.