S&P keeps Polkomtel on watch

Standard & Poor's said the BBB+ long-term and A-2 short-term corporate credit ratings on Polkomtel SA and the BBB+ issue rating on Polkomtel Finance AB's euro medium-term note program remain on CreditWatch with negative implications, where they were placed on July 20.

The agency also assigned a BBB+ rating to the PLN 1 billion floating-rate notes to be issued by Polkomtel Finance and guaranteed by Polkomtel, and placed them on CreditWatch with negative implications.

Proceeds will be used to refinance existing debt, including the company's PLN 1.6 billion revolving credit facility maturing in July 2011, of which PLN 1.2 billion is currently undrawn.

© 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.