Moody's rates RCS notes Ba3

Moody's Investors Service said it assigned Ba3 corporate family and probability-of-default ratings to RCS & RDS SA and a prospective Ba3 rating to the senior unsecured notes being issued by the company.

The outlook is stable.

The agency said the Ba3 rating is underpinned by the company's robust organic growth, its solid market position within the Romanian and Hungarian cable TV, internet, telephony and satellite TV markets and its sound credit metrics.

The rating is constrained by the company's relatively smaller size compared to its similarly rated peer group and its exposure to emerging-market economies, Moody's said.

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