S&P may lift TDC

Standard & Poor's said it placed the BB long-term corporate credit ratings on TDC A/S and its immediate parent company Angel Lux Common SA on CreditWatch with positive implications. The B short-term ratings were affirmed.

The agency placed the following ratings on CreditWatch with developing implications: the BBB- issue ratings on TDC's senior secured facilities, the BB issue ratings on TDC's euro medium-term notes due 2012 and 2015, and the BB issue ratings on ALC's subordinated notes due 2016.

"The CreditWatch Positive placement for the corporate credit ratings on TDC and ALC reflects the possibility of a future one-notch upgrade, because we expect that the group is likely to apply a significant portion of the sales proceeds from the announced divestment of its Swiss subsidiary Sunrise Communications AG to reduce its indebtedness," S&P analyst Matthias Raab said in a statement.

© 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.