Industry Report Card: High-Yield Telecoms In Europe, Middle-East, Africa, And CIS Apr 05

  • ID: 1784071
  • April 2005
  • Region: Africa, CIS, Europe
  • Standard & Poors
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  • Cable & Wireless Ltd.
  • Cell C (Pty) Ltd.
  • Golden Telecom Inc.
  • Kazakhtelecom JSC
  • MobiFon Holdings B.V.
  • Netia S.A.
  • MORE

(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...

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Research Type: Commentary
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- 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.
- Valentia Telecommunications upc
- North-West Telecom (JSC)
- 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.
- Oskar Mobil a.s.
- Mobiltel AD
- MegaFon S.A.
- Global Crossing (U.K.) Telecommunications Ltd.
- Kabel BW GmbH
- Unitymedia Management GmbH
- Cell C (Pty) Ltd.

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