Moody's moves VodafoneZiggo view to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed VodafoneZiggo Group BV's B1 corporate family rating and B1-PD probability of default rating.

Concurrently, Moody's affirmed the B1 instrument rating on Ziggo Financing Partnership’s senior secured term loan I due and on Ziggo BV’s senior secured term loan H due 2029, the senior secured revolving credit facility due 2026, the senior secured notes due 2027 and 2030.

Moody's also affirmed the B2 senior unsecured rating on the vendor financing notes due 2024 issued by VZ Vendor Financing BV and the B3 senior unsecured rating on the senior notes due 2027 and 2030 issued by Ziggo Bond Co. BV.

The agency revised the outlooks to stable from negative for all other entities except Ziggo Financing Partnership. Moody's assigned a stable outlook to Ziggo Financing Partnership, which had no outlook previously.

The outlook reflects an improved operating performance, the company's strengthening business profile supported by the successful fixed-mobile convergence, which has contributed to significantly increasing customer stickiness, and the improved market environment in mobile following the acquisition of Tele2 Netherlands by T-Mobile Netherlands, Moody’s said.

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