Moody’s affirms Vivendi

Moody's Investors Service said it affirmed Vivendi SA's issuer rating of Baa2 and the senior unsecured Baa2/provisional Baa2 ratings.

The outlook remains stable.

Moody’s said that with the disposal of all of its telecommunications operations, Vivendi has successfully narrowed its operations to media and entertainment activities, focused on content creation and distribution. The substantial disposal proceeds from the sale of telecommunications assets have allowed Vivendi to achieve meaningful de-leveraging even while increasing its returns to shareholders.

This has supported the affirmation of Vivendi's existing Baa2 rating with a stable outlook, the agency added.

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