| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for TDC A/S > News item |
S&P cuts TDC
Standard & Poor's said it lowered its long-term corporate credit and senior unsecured debt ratings on TDC A/S to BB from BBB+.
The agency noted the downgrade follows the announcement by Nordic Telephone Co. ApS that it has received 88.2% acceptance of its offer to TDC's shareholders, which is in excess of the minimum tender threshold of 85%.
At the same time, the short-term corporate credit and commercial paper ratings on TDC were lowered to B from A-2 and removed from CreditWatch, the agency added.
S&P said the downgrade to the high-yield category reflects its expectations that the new shareholders of TDC will implement a highly leveraged financial structure for the group.
© 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.