S&P: Wind Telecomunicazioni view positive

Standard & Poor's said it revised the outlook on Wind Telecomunicazioni SpA to positive from stable and affirmed its B+ long-term corporate credit rating.

The agency assigned a BB- rating to Wind's proposed senior secured credit facilities and senior secured notes with 2 recovery rating, indicating expectation of 70% to 90% recovery.

The agency affirmed the B+ rating on Wind's third-lien notes and B- rating on the company's subordinated

payment-in-kind notes with recovery ratings unchanged at 4 and 6, respectively, indicating expectation of 30% to 50% and 0% to 10% recovery, respectively.

"We believe Wind's credit prospects would benefit from its improved liquidity once the transaction is completed, coupled with its ongoing strong operating and cash flow performance," S&P analyst Patrizia D'Amico said in a statement.

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