Fitch lifts Kabel Deutschland

Fitch Ratings said it upgraded Kabel Deutschland Vertrieb and Service GmbH's long-term issuer default rating to BBB+ from BB and placed it on Rating Watch Negative, in line with the Negative Watch on its new parent Vodafone Group plc.

Following the acquisition by Vodafone, Fitch rates Kabel Deutschland, using a top-down approach, at a notch lower from the parent's rating. Operating and strategic ties between the two companies are strong. KDG gives Vodafone an opportunity to provide facilities-based wireline services in Germany, which are complimentary to its existing alternative fixed-line franchise and strong mobile positions in this country.

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