Moody's rates notes of Polkomtel parent B3

Moody's Investors Service said it assigned a B1 corporate family rating and probability of default rating to Eileme 1 AB (publ), the indirect parent of Polkomtel SA.

Concurrently, Moody's assigned a provisional B3 rating and loss given default assessment of LGD 5 to Eileme 2 AB (publ)'s proposed €900 million worth of senior subordinated notes due in 2020.

The outlook is stable.

"Although B1 is a speculative-grade rating, Polkomtel's B1 global scale rating reflects its leading position in the Polish mobile market, its track record of generating solid profitability and strong cash flows, and the better growth prospects of the Polish market within the broader European context," Moody's vice president, senior analyst and lead analyst for Polkomtel Ivan Palacios said in a news release.

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