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Fitch rates Kabel Deutschland bonds BB-
Fitch Ratings said it assigned BB- ratings to the 10.625% bonds due 2014 and 10¾% eurobonds due 2014 issued under Kabel Deutschland GmbH's recent exchange offer.
The company's BB- issuer default rating, BB- existing notes and BB+ €1.35 billion senior secured bank facilities are unchanged.
The exchange offer gave investors the opportunity to exchange Kabel Deutschland's existing 10.625% bonds and 10¾% eurobonds. Fitch said the exchange bonds are identical in all material respects to the existing bonds, except that the exchange notes have been registered with the Securities and Exchange Commission.
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