Research Update: Wind Tre 'BB-' Ratings Affirmed; Off Watch; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Wind Tre 'BB-' Ratings Affirmed; Off Watch; Outlook Stable

Research Update: Wind Tre 'BB-' Ratings Affirmed; Off Watch; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Wind Tre 'BB-' Ratings Affirmed; Off Watch; Outlook Stable
Published Oct 12, 2018
11 pages (3926 words) — Published Oct 12, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

CK Hutchison Holdings Ltd. (Hutchison) is now the 100% owner of Wind Tre S.p.A, likely providing Wind Tre with substantial management support and continuous execution discipline. However, our assessment of the likelihood of future potential parental support remains unchanged, at this stage, because Wind Tre first needs to establish a longer track record of effectively and successfully confronting challenging Italian mobile market conditions. We are therefore affirming our 'BB-' ratings on Wind Tre and its related debt issues, and removing the ratings from CreditWatch positive. The stable outlook reflects our view that the challenges faced by Wind Tre, such as the shrinking retail EBITDA and client base, heavy investments, and the network upgrade, are mitigated by our estimate of a

  
Brief Excerpt:

...+ CK Hutchison Holdings Ltd. (Hutchison) is now the 100% owner of Wind Tre S.p.A, likely providing Wind Tre with substantial management support and continuous execution discipline. + However, our assessment of the likelihood of future potential parental support remains unchanged, at this stage, because Wind Tre first needs to establish a longer track record of effectively and successfully confronting challenging Italian mobile market conditions. + We are therefore affirming our '##-' ratings on Wind Tre and its related debt issues, and removing the ratings from CreditWatch positive. + The stable outlook reflects our view that the challenges faced by Wind Tre, such as the shrinking retail EBITDA and client base, heavy investments, and the network upgrade, are mitigated by our estimate of a significant cushion resulting from increasing wholesale revenues....

  
Report Type:

Research Update

Ticker
1487582D@IM
Issuer
GICS
Integrated Telecommunication Services (50101020)
Sector
Global Issuers
Country
Region
Latin America
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Wind Tre 'BB-' Ratings Affirmed; Off Watch; Outlook Stable" Oct 12, 2018. Alacra Store. Dec 18, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Wind-Tre-BB-Ratings-Affirmed-Off-Watch-Outlook-Stable-2112819>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Wind Tre 'BB-' Ratings Affirmed; Off Watch; Outlook Stable Oct 12, 2018. New York, NY: Alacra Store. Retrieved Dec 18, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Wind-Tre-BB-Ratings-Affirmed-Off-Watch-Outlook-Stable-2112819>
  
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