S&P gives B+ to Tele Columbus

Standard & Poor’s said it assigned its B+ long-term preliminary corporate credit rating to Tele Columbus.

The rating will remain preliminary until a planned IPO and €300 million equity injection are executed and the €375 million term loan, €75 million capital expenditure facility and €50 million revolving credit facility are put in place, replacing all current outstanding debt.

S&P said the corporate credit rating is constrained by Tele Columbus’ still significant reliance on third-party cable TV networks and a partial upgrade to the highest industry standards.

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