• SELECT SITE CURRENCY
Select a currency for use throughout the site
Industry Report Card: High-Yield Telecoms In Europe, Middle-East, Africa, And CIS Apr 05
Standard & Poors, April 2005
(Editor's note: this article has been republished to clarify the footnote references in Table 1. A corrected version follows.) The European high-yield telecommunications ratings universe has seen considerable activity since the publication of the last report card in October 2004. There have been 30 ratings actions in total, including six new ratings, ten upgrades, three downgrades, two outlook revisions, and seven CreditWatch placements. A number of companies posted new issuance to ensure the adequate funding of business plans, while others carried out transactions to alter capital structure. Inmarsat, for example, replaced equity-type instruments with debt, and Eutelsat underwent a leveraged recapitalization. Standard & Poor's Ratings Services considers that concerns as to the access to and availability of funds might become...
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.
- Cable & Wireless Ltd.
- Eutelsat S.A.
- Virgin Media Holdings Inc.
- Millicom International Cellular S.A.
- Rostelecom OJSC
- Moscow City Telephone Network (JSC)
- Netia S.A.
- Colt Technology Services Ltd.
- Vimpel-Communications OJSC
- Turkcell Iletisim Hizmetleri A.S.
- Cableuropa S.A.U.
- Partner Communications Co. Ltd.
- Mobile TeleSystems (OJSC)
- Sistema (JSFC)
- Telewest Communications Networks Ltd.
- Uralsvyazinform (OJSC)
- Central Telecommunications Co. (OJSC)
- Southern Telecommunications Co. (OJSC)
- Kazakhtelecom JSC
- VolgaTelecom (OJSC)
- CJSC Kyivstar GSM
- Golden Telecom Inc.
- MobiFon Holdings B.V.
- Telenet Communications N.V.
- Inmarsat Investments Ltd.
- Cablecom Holdings AG
- Tele Columbus GmbH & Co. KG
- Kabel Deutschland Vertrieb und Service GmbH
- Magyar Telecom B.V.
- Mobiltel AD
- MegaFon S.A.
- Global Crossing (U.K.) Telecommunications Ltd.
- Kabel BW GmbH
- Unitymedia Management GmbH
- Cell C (Pty) Ltd.
- Oskar Mobil a.s.
- Valentia Telecommunications upc
- North-West Telecom (JSC)