Moody's upgrades Telenet

Moody's Investors Service said it upgraded the corporate family rating and €2.3 billion senior secured facility of Telenet Group Holding NV to Ba3 from B1.

The outlook is stable.

The upgrade reflects Telenet's continued strong operational and financial performance, Moody's said.

The agency said it believes the company has a strong growth momentum to further increase its subscriber base in Internet and telephony and to continue to generate free cash flow, which supports its credit profile.

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