Fitch ups Wind view to positive

Fitch Ratings said it changed Wind Telecomunicazioni SpA's outlook to positive from stable and affirmed its B+ issuer default rating, BB first-priority senior secured facilities with a recovery rating of RR2, Wind Finance SL SA's BB second-lien notes with a recovery rating of RR2 and Wind Acquisition Finance SA's B+ €1.5 billion senior notes with a recovery rating of RR4.

Fitch said the positive outlook reflects Wind's positive revenue, earnings and cash generative momentum and the clear commitment to debt reduction as evidenced by early amortization of the first-priority senior secured facilities to date. It also reflects the agency's expectation that further early repayment is probable. Early repayment of the company's senior debt strengthens the recovery prospects for the more junior creditor classes.

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