S&P: Sunrise Communications view to stable

S&P said it revised the outlook for Sunrise Communications to stable from negative after the company cancelled its proposed acquisition of UPC Switzerland and will incur CHF 120 million to CHF 125 million of expenses and penalties.

“As a result, instead of a material increase in leverage, we now expect Sunrise’s S&P Global Ratings-adjusted debt to EBITDA will rise to 3.2x in 2019, before improving to, or below, 3x in 2020-2021 (excluding one-off costs),” said S&P in a press release.

S&P affirmed Sunrise’s BBB- rating.

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