S&P: Ypso on positive watch

Standard & Poor's said it placed a B long-term corporate credit rating on Ypso Holding Sarl on CreditWatch with positive implications.

The agency also placed the B rating on Ypso's various senior secured notes on CreditWatch with positive implications.

The recovery rating on these notes remains unchanged at 3, reflecting 50% to 70% expected default recovery.

The CreditWatch placement follows Ypso's recent request to its lenders for various amendments to its debt documentation, including for a potential merger with its sister company Altice B2B and an initial public offering for the combined businesses, S&P said.

The CreditWatch also reflects expectations of lower leverage after the merger, the agency said.

© 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.