S&P boosts Kabel Deutschland

Standard & Poor's said it raised its long-term corporate credit rating on Kabel Deutschland GmbH to BB- from B+.

The outlook is stable.

In addition, the agency said it raised the issue ratings on the $610 million and €250 million of senior unsecured notes due July 2014 issued by the company to BB- from B+.

"The upgrade primarily reflects Kabel Deutschland's solid operating performance over the past 12 months and its expectation that Kabel Deutschland's credit measures are likely to improve significantly over the next 12 months," said credit analyst Matthias Raab.

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