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BULLETIN: Telenor Ratings Unchanged On Nordic Acquisitions May 05
Standard & Poors, May 2005
Abstract
LONDON (Standard & Poor's) May 23, 2005--Standard & Poor's Ratings Services said today that its ratings and outlook on leading Norwegian telecommunications provider Telenor ASA (A-/Stable/A-2) were unchanged following the company's agreement to acquire Bredbandsbolaget in Sweden and Cybercity in Denmark. The combined consideration, including acquired debt, is about Norwegian krone (Nkr) 7.0 billion ($1.1 billion), which compares with Telenor's free operating cash flow of Nkr7.4 billion for the year ended Dec. 31, 2004, and liquid assets of Nkr8.2 billion at March 31, 2005. These investments in growing and established assets will increase Telenor's pan-Scandinavian presence. The assets are not currently expected to require meaningful additional funding. Both transactions are expected to complete by July 2005 and are subject to...
Companies mentioned in this report are: Telenor ASA
Action: Bulletin
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.
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