Moody’s assigns PPF Telecom notes Ba1

Moody’s Investors Service said it assigned a Ba1 rating to the proposed senior secured notes to be issued by PPF Telecom Group BV (formerly PPF Arena 1 BV).

Proceeds are expected to be used for group funding needs, including, but not limited to, the repayment of debt and acquisitions.

“The Ba1 rating of the proposed senior notes is in line with the group’s CFR and reflects the strength of the telecom group in the Czech Republic as well as its international diversification. We have considered the rating of the operating entity (Cetin as, Baa2 negative) relative to the holding company (PPF Telecom Group BV, Ba1 stable). The two-notch gap reflects the structurally subordinated position of PPF Telecom’s bondholders,” said Carlos Winzer, a Moody’s senior vice president and lead analyst for PPF Telecom,” in a press release.

The outlook is stable.

© 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.