Ziggo Group Holding B.V. Cut To 'BB-' On Acquisition By Liberty, Proposed Merger With UPC Nederland; Outlook Stable

After completing its acquisition of Netherlands-based cable operator Ziggo N.V. in late 2014, international cable television and broadband services provider Liberty Global PLC (Liberty) has announced it will merge UPC Nederland with Ziggo Group Holding B.V. (Ziggo). We think this will result in a more aggressive financial policy at Ziggo that is only partially offset by a stronger competitive position. We are therefore downgrading Ziggo to 'BB-' from 'BB'. The stable outlook on Ziggo mirrors our stable outlook on its parent company, Liberty, as well as Ziggo's strengths that support its stand-alone credit profile. PARIS (Standard&Poor's) Jan. 14, 2015--Standard&Poor's Ratings Services said today that it had lowered its long-term corporate credit rating on Netherlands-based Ziggo Group

...+ After completing its acquisition of Netherlands-based cable operator Ziggo N.V. in late 2014, international cable television and broadband services provider Liberty Global PLC (Liberty) has announced it will merge UPC Nederland with Ziggo Group Holding B.V. (Ziggo). + We think this will result in a more aggressive financial policy at Ziggo that is only partially offset by a stronger competitive position. + We are therefore downgrading Ziggo to '##-' from '##'. + The stable outlook on Ziggo mirrors our stable outlook on its parent company, Liberty, as well as Ziggo's strengths that support its stand-alone credit profile. PARIS (Standard & Poor's) Jan. 14, 2015--Standard & Poor's Ratings Services said today that it had lowered its long-term corporate credit rating on Netherlands-based Ziggo Group Holding B.V. (Ziggo) to '##-' from '##'. The outlook is stable. The rating was removed from CreditWatch with negative implications, where it was placed on Jan. 28, 2014. At the same time, we lowered...

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