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Bulletin: Telekom Austria Ratings Unchanged On Acquisition Of Orange Austria Assets Feb 12
Standard & Poors, Feb 2012
Abstract
FRANKFURT (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services said today that its ratings and outlook on Austrian telecommunications operator Telekom Austria AG (BBB/Stable/A-2) are not immediately affected by the acquisition of assets from mobile operator Orange Austria Telecommunication GmbH for a total of up to -390 million. This is because we anticipate that the acquisition will only slightly increase Telekom Austria's leverage to about 2.7x-2.8x debt to EBITDA (as adjusted by Standard & Poor's) by year-end 2012, from 2.6x as of Sept. 30, 2011. This is within the range we view as rating-commensurate, albeit at the upper end. Furthermore, in our current base-case assessment, Telekom Austria has the ability to gradually reduce its leverage through discretionary cash...
Companies mentioned in this report are: Telekom Austria AG
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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