Moody’s assigns Tele Columbus loans B2

Moody's Investors Service said it assigned a provisional B2 corporate family rating to Tele Columbus AG.

At the same time, the agency assigned a provisional B2 rating to the company's €500 million senior credit facilities, consisting of a €375 million A facility due 2020, a €75 million B/Capex facility due 2019 and a €50 million revolving credit facility, initially due in 2019 with extension option.

The outlook is stable.

Tele Columbus announced its intention to file an IPO and list its shares on the Frankfurt stock exchange by the end of 2014, raising at least €300 million in primary proceeds.

Proceeds will be used to reduce debt and the rated facilities will replace Tele Columbus's existing third-party debt financing.

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