Fitch affirms Kabel Deutschland

Fitch Ratings said it affirmed Kabel Deutschland Vertrieb und Service GmbH & Co. AG's long-term issuer default rating at BB-, along with its senior secured bank facilities at BB+ and Kabel Deutschland GmbH's senior notes at BB-.

The outlook is stable.

The ratings reflect the company's well-established and stable subscriber base, as well as its low, but predictable and increasing, blended ARPU resulting from the solid take-up of new services, Fitch said.

However pay-TV and internet take-up will be watched very closely. This is because of the competitive situation in Germany remains intense and Kabel Deutschland still needs to prove that it can compete effectively with other market players.

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