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Cable Operator Coditel 'B' Long-Term Rating Is Affirmed; Rating Then Withdrawn At The Issuer's Request Dec 11

  • ID: 2030934
  • December 2011
  • Standard & Poors
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  • Coditel Holding Lux Sarl
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PARIS (Standard & Poor's) Dec. 12, 2011--Standard & Poor's Ratings Services said it affirmed and then withdrew its 'B' long-term corporate credit rating on Luxembourg-based cable operator Coditel Holding Lux Sarl at the issuer's request. The rating action follows the completion of Coditel's full refinancing of its capital structure on Dec. 2, 2011, with new bank loans and a mezzanine facility replacing its initial bridge loan. At closing of the transaction, on Dec. 2, 2011, debt leverage was down slightly from that of the initial capital structure and liquidity was adequate, in our opinion. At the time of the withdrawal, the outlook was stable and the company had no rated debt outstanding. RELATED CRITERIA AND RESEARCH 2008 Corporate Criteria: Analytical...

Companies mentioned in this report are: Coditel Holding Lux Sarl
Action: Affirmed
Action: Withdrawn

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
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Coditel Holding Lux Sarl

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