Moody's rates Kabel notes B1

Moody's Investors Service said it assigned a provisional B1 rating to the €300 million senior notes due 2017 to be issued by Kabel Deutschland Holding AG.

Concurrently, Moody's affirmed Kabel's Ba2 corporate family rating and the Ba2 rating of the €500 million senior secured notes due 2018 issued by KDVS GmbH, Kabel's operating subsidiary.

The outlook remains stable.

Moody's said the provisional B1 rating on the notes, two notches below Kabel's corporate family rating, reflects the notes' structural and contractual subordination in right of payment to all debt issued at KDVS.

© 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.