Moody’s gives Altice Luxembourg stable view

Moody's Investors Service said it changed Altice Luxembourg SA’s outlook to stable from negative and affirmed its B1 corporate family rating, B1-PD probability of default rating and B3 senior notes rating.

The agency said its decision to stabilize the outlook reflects revenue improvements in the company’s key markets in France and Portugal, the strengthening of the management team, more clearly defined strategic objectives and anticipated improvements to company credit metrics in 2018 on the back of significant investment in fiber and 4G infrastructure.

However, the rating remains weakly positioned, with leverage at the higher end of the range for the category and limited free cash flow generation over the next 18 months, Moody’s said.

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