- Language: English
- Published: September 2012
- Region: Spain
Research Update: Spanish Cable Operator Cableuropa Upgraded To 'B' On Completion Of Subordinated Debt Refinancing; Outlook Stable Feb 11
- Published: February 2011
- Region: Spain
- Standard & Poors
Spanish cable operator Cableuropa has completed the issuance of -460 million of unsecured notes due 2019. It will use the proceeds to refinance its unsecured notes maturing in 2014. We are raising our long-term corporate credit rating and our senior secured notes rating to 'B' from 'B-' and removing the ratings from CreditWatch. At the same time, we are also raising the rating on the new unsecured notes to 'CCC+' from 'CCC'. The stable outlook reflects our view that Cableuropa should post a resilient operating performance and moderate deleveraging, and move on to address its 2013 senior bank debt maturities over the next 12 months. On Feb. 2, 2011, Standard & Poor's Ratings Services raised to 'B' from 'B-' its...
Companies mentioned in this report are: Cableuropa S.A.U.,ONO Finance PLC,ONO Finance II PLC,Nara Cable Funding Ltd.
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Cableuropa S.A.U.,ONO Finance PLC,ONO Finance II PLC,Nara Cable Funding Ltd.