Moody’s changes Altice Luxembourg to negative

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

"The decision to change the outlook to negative on Altice Luxembourg's ratings reflects the very weak positioning of the rating and reported revenue weakness in the key markets, France and Portugal, in Q3 2017," Colin Vittery, Moody's vice president, senior credit officer and lead analyst for Altice Luxembourg, said in a news release.

"Management changes have come at a critical time for the French business as it battles high customer churn and operational restructuring at a time of reduced liquidity and increasing pressure on financial covenants."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.