Moody's changes eAccess to stable

Moody's Japan KK said it affirmed the senior unsecured debt of eAccess Ltd. and its issuer ratings at Ba2.

The outlook was changed to stable from developing reflecting Moody's action concluding the review on parent Softbank Corp. on July 18, 2013.

Moody's said the affirmation considers the strategic benefits to eAccess from Softbank's greater size, marketing and branding organization, and access to capital. There are also synergies from access to a larger subscriber base for eAccess' 1.7GHz spectrum, which is not licensed to Softbank.

Including eAccess' subscriber and revenue base, Softbank group is now Japan's second largest wireless operator.

Moody's said it incorporated such expected support and equalized eAccess' rating to that of Softbank. The stable outlook mirrors the same and preceding rating action on Softbank.

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