Dutch Cable Operator Ziggo Bond Co. B.V. 'B+' Rating Placed On CreditWatch Positive On Announced IPO Plans Mar 12
Standard & Poors, March 2012
Abstract
Dutch cable operator Ziggo Bond Co. B.V. (Ziggo) has announced its intention to launch an IPO. We understand that the company's shareholder loans and accrued interest, which we currently treat as debt, will be converted into common equity as part of the IPO transaction. As a result, the transaction will likely considerably reduce the company's adjusted debt leverage. We are therefore placing our 'B+' long-term rating on Ziggo, and all related issue ratings, on CreditWatch positive. PARIS (Standard & Poor's) March 7, 2012--Standard & Poor's Ratings Services said today that it has placed its 'B+' long-term corporate credit rating on The Netherlands-based leading cable operator Ziggo Bond Co. B.V. (Ziggo) on CreditWatch with positive implications. We also placed our 'BB'...
Companies mentioned in this report are: Ziggo Bond Co. B.V.
Action: On CreditWatch:Positive
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.
Ziggo Bond Co. B.V.
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