S&P: Adria Bidco notes B

Standard & Poor's said it assigned its preliminary B long-term corporate credit rating to Adria Bidco BV.

The outlook is positive.

At the same time, the agency assigned its preliminary B issue rating to the €475 million proposed senior secured notes due 2020 to be issued by Adria Bidco.

S&P said the preliminary rating on Adria Bidco reflects its assessment of its financial risk profile as "highly leveraged" and the view of its business risk profile as "fair."

Adria Bidco is planning to issue €475 million of senior secured notes to fund the acquisition of cable and direct-to-home TV company Slovenia Broadband Sarl.

© 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.