S&P ups PTC ratings

Standard & Poor's said it raised its long-term corporate credit and bank loan ratings on Poland-based mobile telecommunications operator Polska Telefonia Cyfrowa Sp. z o.o. (PTC) to BBB- from BB+, primarily reflecting the company's improved financial profile and continued strong operating performance.

The outlook is stable.

At the same time, S&P raised its subordinated debt ratings on guaranteed subsidiary PTC International Finance II SA to BB+ from BB-.

"The upgrade of PTC to the investment-grade category reflects the company's continued strong financial performance and strong visibility with regard to cash flow generation," said S&P credit analyst Michael O'Brien. "This has been assisted by the company's strategic and financial flexibility, which has enabled PTC to maintain its leading mobile telephony market position in Poland, in terms of both market value and subscribers."

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