S&P rates Numericable B+

Standard & Poor's said it assigned a B+ long-term corporate credit rating to Numericable Group SA.

The outlook is stable.

Numericable is a newly incorporated and listed top holding company for Ypso Holding Sarl and Altice B2B Sarl.

Numericable owns 100% of the capital of the two companies. The rating on Numericable reflects a view of the combined creditworthiness of both entities, S&P said.

The group's business profile is assessed as fair and its financial profile as aggressive, the agency said.

Followings an initial public offering, Numericable will continue to separate Altice and Ypso through a ring-fence mechanism, S&P said.

However, Numericable's management has publicly stated its intention to merge the two entities, the agency said. The ratings on Ypso and Altice will be equalized with the ratings on Numericable, the agency added.

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