Moody's changes Tele Columbus view to stable

Moody's Investors Service said it changed the outlook to stable from under review and confirmed Tele Columbus AG's B3 corporate family rating, B3-PD probability of default rating and the B3 instrument rating on the senior secured bank credit facilities and senior secured notes.

This rating action concludes the review for downgrade started on April 21, Moody’s said.

"We have confirmed Tele Columbus' B3 ratings with a stable outlook because the company has strengthened its liquidity through the refinancing of its €50 million revolving credit facility (RCF) maturing in January 2021 with a new term loan and a new RCF amounting to €50 million in total and both maturing in August 2022," said Agustin Alberti, a Moody's vice president, senior analyst and lead analyst for Tele Columbus, in a press release.

Upon completion of the refinancing, the current €50 million revolver will be canceled and its rating will be withdrawn, the agency said.

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