S&P changes Television Francaise 1 view

S&P said it revised its outlook on Television Francaise 1 SA to stable from negative.

At the same time, the agency affirmed the BBB+/A-2 long- and short-term issuer credit ratings.

S&P said the revision follows the improvement in the company’s profitability in 2017 and reflects a view that the group will be able to sustain and further increase its profitability by 2019.

The new transmission fees that the company will receive from telecommunication operators starting in 2018 will help this increase, the agency said.

At the same time, S&P said it continues to forecast very strong credit metrics for the company over the coming years, in line with the group's track record of maintaining a very prudent financial policy.

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