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Moody's rates Invitel Holdings loan Ba3, note B3
Moody's Investors Service said it assigned a B1 corporate family rating to Invitel Holdings NV, an indirect holding company of Magyar Telecom BV and Invitel Tavkozlesi Szolgaltato Rt. All three companies are based in Hungary.
The agency also assigned a Ba3 rating to the company's €127.9 million senior secured facility, assigned a B3 rating to its €142 million senior notes and put the B1 corporate family rating on review for possible downgrade following the company's announcement that it will issue €125 million floating-rate senior payment-in-kind notes due 2013.
The review will focus on the company's anticipated operational and financial performance in the context of increased debt levels and its financial policy going forwards, the agency said.
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