Moody's: Wind now stable

Moody's Investors Service said it changed the outlook on Wind Telecomunicazioni SpA to negative from stable. The Ba3 corporate family rating and other ratings are affirmed.

Moody's said the change in outlook reflects its view that the operating environment is proving more challenging for Wind to continue to grow revenue and EBITDA going forward.

The agency also said it thinks that the ongoing 4G spectrum auction could lead to meaningful upfront cash outflow, hence reducing the group's financial flexibility within the Ba3 rating category, in the absence of any material financial support from the parent VimpelCom (Ba3, stable outlook).

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