Norwegian Telco Telenor ASA Cut To 'BBB+' On Debt-Funded Acquisition Of Mobi63; Outlook Stable Aug 06
- ID: 1831862
- August 2006
- Region: Norway
- Standard & Poors
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
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