Fitch may up Wind

Fitch Ratings said it placed Wind Telecomunicazioni Spa's BB- long-term issuer default rating, its B short-term issuer default rating and senior secured facilities rated BB+ on Rating Watch positive as well as Wind Finance SL SA's BB+ second-lien facilities, Wind Acquisition Finance SA's B+ senior notes and Wind Acquisition Holdings Finance Spa's senior pay-in-kind notes rated B.

This follows VimpelCom's plans to acquire Weather Investments, which is a 100% shareholder in Wind.

VimpelCom estimated that pro forma leverage, as of end of June, was 2.3x to 2.5x net debt to EBITDA, according to the agency.

Notwithstanding the acquisition VimpelCom will remain strongly free cash flow-generative, retaining substantial flexibility to deleverage to its target below 2x net debt to EBITDA, the agency said. VimpelCom's credit profile is also likely to remain significantly stronger than that of Wind.

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