S&P raises VTR GlobalCom outlook to positive

Standard & Poor's said it revised the outlook of its long-term corporate credit rating on VTR GlobalCom SA to positive from stable, following a similar measure taken on the ratings on VTR's parent, Liberty Global Inc. (B/positive) and reflecting the linkage between the credit quality of both entities.

The B long-term ratings on VTR were affirmed, the agency said, noting that the outlook revision reflects Liberty's solid performance and consistent, if still highly leveraged, financial policy.

The revision follows the publication of full-year results and proposed increase and lengthened maturity of Liberty's main bank facilities at subsidiary UPC Broadband Holding BV (B/positive), the agency added.

According to S&P, the B ratings on VTR reflect the company's future shift into a more aggressive financial policy, which will involve a deterioration in financial credit metrics in the short to medium term.

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