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Norwegian Telco Telenor ASA Cut To 'BBB+' On Debt-Funded Acquisition Of Mobi63; Outlook Stable Aug 06
Standard & Poors, August 2006
PARIS (Standard & Poor's) Aug. 1, 2006--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit rating and senior unsecured debt ratings on Norway-based integrated telecoms operator Telenor ASA to 'BBB+' from 'A-', after the company announced its debt-funded acquisition of Mobi63 (previously known as Mobtel), a leading mobile operator in Serbia. The outlook is stable. At the same time, the 'A-2' short-term ratings were affirmed. Furthermore, Standard & Poor's affirmed its 'BB-' long-term corporate credit rating on related entity CJSC Kyivstar GSM, and its 'BB+' long-term corporate credit rating on Total Access Communication Public Co. Ltd. The outlook on both entities is stable. At June 30, 2006, Telenor had gross unadjusted consolidated debt of Norwegian...
Companies mentioned in this report are: Telenor ASA,Total Access Communication Public Co. Ltd.,CJSC Kyivstar GSM
Action: Outlook: Stable
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.
Telenor ASA,Total Access Communication Public Co. Ltd.,CJSC Kyivstar GSM