Leading provider of broadband Internet and cable TV services in its geographic footprint. Sound EBITDA growth potential through growing uptake of profitable bundled services--cable television, broadband Internet, and fixed-line and mobile telephony. Strong network capabilities and scalable infrastructure. Ongoing competition for broadband Internet and telephony services from fixed-line and mobile network telecom operators. Potential increase competition from introduction of cable wholesale regulation. Very high Standard&Poor's-adjusted leverage ratios due to majority owner LG's very aggressive financial policy and intention to maintain high leverage at Telenet. Robust operating cash flow generation, partly offset by sizable interest payments and capital expenditures. The stable outlook on Belgian cable operator Telenet Group Holding N.V. reflects our view that it will report further solid
