S&P raises Wind

Standard & Poor's said it raised its long-term corporate credit rating to BB- from B+ on Wind Telecomunicazioni SpA.

The outlook is stable.

The one-notch upgrade also applies to Wind's secured and unsecured debt, the agency said, adding that the recovery ratings on this debt are unchanged, at 2 for the senior secured credit facilities and 3 for the junior-lien bonds.

According to S&P, the upgrade reflects the group's continued good performance and sustained cash flow generation, which enabled the prepayment of €492 million of senior debt in December.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.