Fitch downgrades DKT Holdings

Fitch Ratings said it downgraded DKT Holdings ApS' long-term issuer default rating to B- from B+ and removed it from rating watch negative. DKT owns Nuuday A/S and TDC NET Holding A/S.

The agency also affirmed DKT Finance ApS' instrument ratings and removed them from rating watch evolving and improved their recovery ratings to RR4 from RR6.

“The rating action follows separation of and ringfencing around TDC NET earlier this year. DKT creditors will have limited access to TDC NET's assets and cashflows, and rely mainly on assets and cash flow from Nuuday,” Fitch said in a press release.

The outlook is negative.

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