Fitch: Eastern Broadcasting positive

Fitch Ratings said it changed the outlook of Eastern Broadcasting Co. Ltd. to positive from stable. At the same time, the agency affirmed the company's ratings at senior unsecured foreign currency and local currency BB-, national long-term BBB-(twn) and national short-term F3(twn).

The new outlook reflects Fitch's view that an upgrade of Eastern Broadcasting's ratings is likely in the coming 18 months. The upgrade will depend on whether Eastern Broadcasting can substantially reduce debt and capital outlays while maintaining profitability in its core businesses.

The rating affirmations are based on Eastern Broadcasting's continuing position as the leading cable TV operator in Taiwan. Fitch noted that Eastern Broadcasting has a strong record in developing and acquiring market share at the expense of other Cable TV operators and the island's four free-to-air broadcasters.

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