Moody's assigns Ono bonds B3

Moody's Investors Service said it assigned a provisional B3 rating the proposed issuance of €270 million senior bonds by Ono Finance II plc.

The agency said the new notes will rank pari-passu both structurally and contractually with the existing €280 million notes maturing in 2014 and both instruments will be guaranteed on a senior subordinated basis by Cableuropa SAU and Auna Telecomunicaciones, SAU.

Concurrently, Moody's said it has withdrawn the B1 corporate family rating at the level of Ono Finance plc and has assigned the same rating to Cableuropa.

The outlooks are stable.

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