|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Telenor's Agreement to Buy Remaining 46.5% Stake in Sonofon has No Ratings Effect Dec 03
Standard & Poors, Dec 2003
Abstract
LONDON (Standard & Poor's) Dec. 10, 2003--Standard & Poor's Ratings Services said today that the agreement by Norwegian telecommunications operator Telenor ASA (A-/Stable/A-2) to pay cash of Danish krone (Dkr) 3 billion ($500 million) for an additional 46.5% stake in Sonofon Holding A/S would not affect the ratings or outlook. Standard & Poor's currently proportionately consolidates Telenor's existing 53.5% stake in Sonofon, recognizing its strategic importance as a key Scandinavian mobile asset. Although the Danish telecoms market is intensely competitive and Telenor will also consolidate Sonofon's net debt of about Norwegian krone (Nkr) 3 billion ($451 million), the ratings can accommodate this given Telenor's strong performance during 2003 and because Sonofon is EBITDA less capital expenditure positive. Pro forma for...
Companies mentioned in this report are: Telenor ASA
Action: S&P Event
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.
|
|
|
|
