Standard & Poor's upgrades Kabel Deutschland one notch to BB, outlook stable
The rating agency Standard & Poor's today raised Kabel Deutschland Holding AG's long-term corporate credit rating one notch from 'BB-', outlook stable, to 'BB', outlook stable. Concurrently, Standard & Poor's upgraded the ratings of the Company's Senior Secured Notes from 'BB' to 'BB+' (issuer: Kabel Deutschland Vertrieb and Service GmbH) and Senior Unsecured Notes from 'B' to 'B+' (issuer: Kabel Deutschland Holding AG).
With the upgrade, Standard & Poor's acknowledges Kabel Deutschland's improving credit measures based on the Company's strong business performance with high revenue and EBITDA growth resulting in continued free operating cash flow generation.
For the full note 'Cable operator Kabel Deutschland upgraded to 'BB' on lower debt leverage; outlook stable', please contact Standard & Poor's.