S&P lifts Liberty Global

Standard & Poor's said it raised its long-term corporate credit rating on Liberty Global plc, and all ratings on its indirect subsidiaries, Liberty Global Europe Inc., UnitedGlobalCom Inc., UPC Holding BV and UPC Broadband Holding BV, to BB- from B+.

The ratings were removed from CreditWatch with positive implications, where they had been since Feb. 6.

The outlook is stable.

S&P said the action primarily reflects the revision of its assessment of Liberty Global's business risk profile to "strong" from "satisfactory" following the June 7 acquisition of U.K.-based cable operator Virgin Media Inc.

In the agency's view, the acquisition of Virgin Media strengthens Liberty Global's already superior asset portfolio diversity and underpins its growth prospects compared with peers.

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