Bulletin: Telenet Rating And Outlook Unaffected By Plan To Acquire SFR BeLux

FRANKFURT (S&P Global Ratings) Dec. 22, 2016--S&P Global Ratings said today that its rating and outlook on Belgian cable-TV and telecommunications provider Telenet Group Holding N.V. (B+/Stable/--) are unaffected by the company's announcement that it has agreed to acquire Coditel Brabant SPRL (SFR BeLux) for €400 million. We estimate that, at year-end 2017, Telenet's adjusted debt to EBITDA, after taking into account the acquisition on a pro forma basis, will be about 4.5x–4.7x, which is about 0.1x higher than in our previous forecast. This ratio remains well within our benchmarks for the company's stand-alone credit profile.

...FRANKFURT (S&P Global Ratings) Dec. 22, 2016--S&P Global Ratings said today that its rating and outlook on Belgian cable-TV and telecommunications provider Telenet Group Holding N.V. (B+/Stable/--) are unaffected by the company's announcement that it has agreed to acquire Coditel Brabant SPRL (SFR BeLux) for 400 million. We estimate that, at year-end 2017, Telenet's adjusted debt to EBITDA, after taking into account the acquisition on a pro forma basis, will be about 4.5x¡4.7x, which is about 0.1x higher than in our previous forecast. This ratio remains well within our benchmarks for the company's stand-alone credit profile. Only a rating committee may determine a rating action and this report does not constitute a rating action....

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