S&P: MobiFon on watch positive

Standard & Poor's said it placed its ratings on MobiFon Holdings BV and parent Telesystem International Wireless Inc. (B+/Watch Positive/--) on CreditWatch positive following the announced definitive agreement between Telesystem and Vodafone Group plc (A/stable/A-1), whereby Vodafone will purchase Telesystem's 79% ownership interest in MobiFon as. (79%-owned subsidiary of MobiFon Holdings) through interim holding company Clearwave NV.

S&P said the CreditWatch placement also reflects the improving standalone credit profile of MobiFon.

On watch are MobiFon Holdings' B+ corporate credit rating and B- senior unsecured debt rating and Telesystem's B+ corporate credit rating.

The stand-alone credit profile of MobiFon continues to improve driven by strong subscriber growth, which is fueling revenue and EBITDA growth, according to S&P.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.