S&P: SBS Broadcasting unaffected

Standard & Poor's said its ratings and outlook on SBS Broadcasting SA (BB+/stable/--) are not affected by the company's acquisition of CMore Group AB for €270 million.

S&P said it views the acquisition as complementary, slightly improving SBS' business profile and considers that SBS has adequate financial capacity to absorb the cash-based transaction without impairing credit quality.

The company has adequate flexibility in its current financial profile to absorb the acquisition, while remaining close to its target of lease-adjusted total debt to EBITDA of 3.5x, according to S&P.

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