Summary: VodafoneZiggo Group B.V. - S&P Global Ratings’ Credit Research

Summary: VodafoneZiggo Group B.V.

Summary: VodafoneZiggo Group B.V. - S&P Global Ratings’ Credit Research
Summary: VodafoneZiggo Group B.V.
Published Mar 28, 2017
9 pages (2839 words) — Published Mar 28, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Solid No. 2 position in the Dutch telecommunications market, combining the leading TV and fixed broadband market positions of Ziggo Group Holding B.V. (Ziggo) with the strong mobile business of Vodafone Netherlands. Track record of strong profitability, and our expectation of sustainable above-industry-average margins once cost synergies from the joint venture materialize. Support from two creditworthy owners, Liberty Global PLC (LGP; BB-/Stable/--) and Vodafone Group PLC (Vodafone; BBB+/Stable/A-2)), which each own 50% of the joint venture. Limited geographical diversification and fierce competition in the Dutch telecoms market, particularly from the incumbent, KPN N.V. Aggressive financial policy, with a targeted group-adjusted leverage of 4.5x-5.0x, corresponding to 5.5x-6.5x S&P Global Ratings-adjusted debt to EBITDA in the medium term. Reasonable free operating cash

  
Brief Excerpt:

...Solid No. 2 position in the Dutch telecommunications market, combining the leading TV and fixed broadband market positions of Ziggo Group Holding B.V. (Ziggo) with the strong mobile business of Vodafone Netherlands....

  
Report Type:

Summary

Issuer
VodafoneZiggo Group B.V.
GICS
Alternative Carriers (50101010)
Sector
Global Issuers, Public Finance
Country
Netherlands
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Summary: VodafoneZiggo Group B.V." Mar 28, 2017. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-VodafoneZiggo-Group-B-V-1821730>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: VodafoneZiggo Group B.V. Mar 28, 2017. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-VodafoneZiggo-Group-B-V-1821730>
  
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