Fitch affirms Kabel Deutschland

Fitch Ratings said it has affirmed Kabel Deutschland Vertrieb und Service GmbH & Co AG's long-term issuer default rating at BB-, with a stable outlook.

The agency said it also affirmed the company's senior secured bank facilities at BB+.

At the same time, Fitch added that it affirmed the holding company Kabel Deutschland GmbH's senior notes at BB-.

Fitch noted that the issuer default rating reflects the strength of Kabel Deutschland's business model with utility-like revenue streams from its large basic TV subscriber base, and increasing blended average revenue per user supported by solid customer take-up of higher ARPU premium services.

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