S&P upgrades TVN, parent

Standard & Poor’s said it raised its long-term corporate credit rating on TVN SA to BBB from B+ and raised the long-term rating on TVN's parent company, Polish Television Holding BV, to BBB from B-.

The outlook on both entities is stable.

S&P also raised the issue rating on TVN’s senior unsecured notes due in 2020 to BBB from B+ and withdrew the issue ratings on PTH’s senior toggle notes due in 2021 and TVN’s senior unsecured notes due in 2018 on their redemption.

At the same time, S&P removed all ratings from CreditWatch, where they were placed with positive implications on March 20, 2015.

S&P said the rating actions follow U.S.-based cable network operator Scripps Networks Interactive Inc.’s (BBB/stable/--) completed acquisition of PTH and TVN.

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