S&P lifts Kabel Deutschland

Standard & Poor's said it raised its long-term corporate credit rating on Kabel Deutschland Holding AG to BB from BB-. The outlook is stable.

The upgrade primarily reflects S&P's view of Kabel Deutschland's stronger credit measures, as adjusted by S&P, following the cancellation of the acquisition of German cable operator Tele Columbus. Furthermore, S&P expects the group will maintain a ratio of net financial debt to EBITDA, as adjusted by the company, well within its 3.0x-3.5x target range.

In addition, S&P forecasts the group will continue generating positive free operating cash flow despite its intention to invest an additional €300 million in its network infrastructure over the next two fiscal years.

© 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.