S&P affirms Virgin Media

Standard & Poor's said it affirmed the B+ corporate credit rating on Virgin Media Inc. and removed its ratings from CreditWatch with negative implications, where they were placed on July 3.

The outlook is stable.

The affirmation follows the company's third-quarter results in line with expectations, as well as the reduced probability of a near-term purchase of the company, the agency said.

The current credit conditions mean that support is limited for buying a company heavily in debt, according to S&P.

For the 12 months to Sept. 30, the issuer's adjusted total debt-to-EBITDA ratio was 5 times.

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