Fitch raises VTR Finance notes

Fitch Ratings said it raised the rating on VTR Finance NV’s $550 million of senior secured notes due 2028 to BB/RR3 from BB-/RR4.

Concurrently, Fitch Ratings affirmed VTR’s long term local-currency and foreign-currency issuer default ratings at BB-with a stable outlook. In addition, Fitch affirmed the VTR Comunicaciones SpA revolving credit facility, senior secured notes due 2028 and 2029 at BB+/RR2. The agency removed the under criteria observation designation from the instrument ratings and IDR.

“The rating actions reflect Fitch's expectation that VTR will delever organically and that acquisitions will not compromise the company's capital structure. The instrument ratings reflect Fitch's revised approach under its recovery ratings criteria published April 9, 2021,” the agency said in a press release.

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