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BULLETIN: TDC A/S Ratings Unaffected by Song Acquisition
Standard & Poors, Sep 2004
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
LONDON (Standard & Poor's) Sept. 14, 2004--Standard & Poor's Ratings Services said today that its ratings and outlook on Denmark-based telecommunications operator TDC A/S (BBB+/Stable/A-2) were unaffected by the group's announced offer for the alternative pan-Nordic telecoms operator Song Networks Holding AB. The offer price implies an equity value of Danish krone (Dkr) 3.3 billion ($543 million). The added debt can be accommodated within the credit parameters of the ratings on TDC given the group's recent deleveraging. The acquisition has business merits: it will provide the group with its own infrastructure that will allow TDC to offer its customers pan-Nordic communication solutions at more competitive prices. The acquisition will also consolidate the group's position in the growing market for corporate...
Companies mentioned in this report are: TDC A/S
Action: Bulletin
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