Moody’s places Wind Tre on review for upgrade

Moody's Investors Service said it placed Wind Tre SpA’s ratings under review for an upgrade, citing the announcement of a plan to repay Wind Tre’s outstanding debt.

The newly created CK Hutchison Group Telecom Holdings Ltd. plans to repay Wind Tre’s debt by refinancing it at the CK Hutchison Telecom level, Moody’s said.

“The decision to place Wind Tre's ratings on review for upgrade reflects the expectation that Wind Tre's stand-alone credit metrics could improve significantly following the refinancing of its debt at CK Hutchison Telecom level, as well as increased evidence of explicit support from Wind Tre's shareholder, CKHH,” said Ernesto Bisagno, Moody’s vice president, senior credit officer and lead analyst for Wind Tre, in a news release.

Affected ratings include Wind Tre’s B1 corporate family rating, the B1-PD, probability of default rating and B1 rating the company’s senior secured notes and term loan.

Moody’s revised Wind Tre’s outlook to under review from stable.

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