On Feb. 16, 2017, Belgian telecom and cable TV provider Telenet Group Holding announced its 2016 full-year results and 2017 EBITDA and free cash flow guidance, both of which were above our expectations. Moreover, despite operating and regulatory headwinds at its mobile subsidiary, BASE, robust operating performance in the core cable TV and broadband business and the ramp-up of cost synergies from the integration of BASE will support better credit metrics than we expected previously. We are therefore raising our long-term corporate credit rating on Telenet as well as our senior secured issue ratings to 'BB-' from 'B+'. The stable outlook expresses our view that Telenet will continue to successfully integrate BASE, and generate S&P Global Ratings-adjusted free operating cash
