Moody's: Kabel under uncertain review

Moody's Investors Service said it placed the Ba2 corporate family rating and the Ba2-PD probability of default rating of Kabel Deutschland Holding AG, as well as the instrument ratings at KDH and its subsidiary Kabel Deutschland Vertrieb&Service GmbH, under review with direction uncertain.

This follows the company's announcements that it received preliminary approaches by both Vodafone Group plc and Liberty Global plc regarding a possible offer for the company.

While the proposals are preliminary and there is no certainty that any offer will ultimately be made, the strong strategic interest both Vodafone and Liberty Global have in KDH increases the likelihood of a firm bid offer in the near term in Moody's opinion.

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