Moody's lifts Swisscom

Moody's Investors Service said it upgraded to A1 from A2 the issuer rating of Swisscom AG and the unsecured ratings of Swisscom and Swisscom Finance BV to A1 from A2.

"The upgrade to A1 reflects Swisscom's continued adherence to a conservative and predictable financial policy. Today's rating action also reflects the company's ongoing operating performance improvements and its exposure to the positive dynamics in the Swiss telecom market," said Luigi Bucci, a Moody’s AVP and lead analyst for Swisscom, in a press release.

"We expect Swisscom to maintain a strong financial profile supported by Moody's-adjusted gross leverage well below 2x and Moody's-adjusted RCF/debt above 35%. The company's rating also continues to benefit from a two-notch uplift due to implicit support from the government of Switzerland (Aaa stable)," Bucci added.

The outlook remains stable.

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