Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed - S&P Global Ratings’ Credit Research

Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed

Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed - S&P Global Ratings’ Credit Research
Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed
Published Sep 17, 2014
2262 words — Published Sep 17, 2014
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Luxembourg-based fixed satellite services operator SES S.A. (SES) continues to report strong growth in revenues and EBITDA, as well as a decrease in its capex commitments. In our view, this reflects SES' continued solid execution of operations. This could enable the group to achieve adjusted leverage ratio and adjusted FOCF to debt below 3.0x and about 20%, respectively, even in 2014. We are therefore revising the outlook on SES to positive from stable and affirming our 'BBB' long-term corporate credit rating. The positive outlook reflects the possibility that we could upgrade SES by one notch in the next 12 months if its leverage declines and if the group continues to improve its FOCF generation. On Sept. 17, 2014, Standard&

  
Brief Excerpt:

RESEARCH Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; '###' Rating Affirmed Publication date: 17-Sep-2014 Primary Credit Analyst: Franck Rizzoli, London (44) 20-7176-3934;...

  
Report Type:

Research Update

Ticker
SESG@FP
Issuer
SES S.A.
Sector
Global Issuers, Structured Finance
Country
Luxembourg
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed" Sep 17, 2014. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-SES-S-A-Outlook-Revised-To-Positive-On-Continued-Deleveraging-Improving-Revenues-And-EBITDA-BBB-Rating-Affirmed-1359593>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: SES S.A. Outlook Revised To Positive On Continued Deleveraging, Improving Revenues, And EBITDA; 'BBB' Rating Affirmed Sep 17, 2014. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-SES-S-A-Outlook-Revised-To-Positive-On-Continued-Deleveraging-Improving-Revenues-And-EBITDA-BBB-Rating-Affirmed-1359593>
  
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