Fitch ups Wind Tre junior debt to B+/RR4

Fitch Ratings said it affirmed Wind Tre SpA's issuer default rating at B+ with a stable outlook.

The agency also affirmed Wind Tre's senior secured debt at BB/RR2.

The junior debt was upgraded to B+/RR4 on stronger expected post-merger recoveries. Fitch said the company has an improved market position after the merger, but Iliad's entry creates some uncertainty while expected spectrum payments over the next two years could limit deleveraging efforts.

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