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Issuer Ranking: EMEA Telecoms, Cable, And Satellite Operators, Strongest To Weakest Oct 09
Standard & Poors, Oct 2009
Abstract
Rating and credit dynamics among the 60 publicly rated telecommunications, cable, and satellite operators in the EMEA region (Europe, the Middle East, and Africa) understandably differ greatly depending on the companies' business profiles (in particular, whether or not they are incumbents) core markets, and financial profiles. Standard & Poor's Ratings Services broadly groups its ratings distribution in the sector into three categories: Telecoms incumbents (originally established as regulated monopolies) and solidly established mobile operators in Europe with 'strong' to 'satisfactory' business profiles but long-term corporate credit ratings nevertheless ranging widely from 'A+' to 'B' depending on the companies' capital structures; Telecoms companies operating in emerging markets, such as Russia or Africa, often benefiting from a supportive growth profile despite the...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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