Moody’s places Arqiva ratings on review

Moody’s Investors Service said it placed on review for upgrade the Ba3 corporate family rating of Arqiva Broadcast Parent Ltd. as well as the senior secured B2 debt rating of its finance subsidiary Arqiva Broadcast Finance plc.

“Today’s rating action reflects Arqiva’s intention to use a large portion of the £2 billion proceeds from the planned sale of its telecom tower activities to deleverage the group, which will likely significantly improve its financial risk profile. However, the extent of the deleveraging will only be known once the company has concluded a liability management exercise with its existing lenders,” said Moody’s in a press release.

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