TeliaSonera senior unsecured debt ratings cut to 'A3/Prime-2' - Moody's |
|
|
|
Published
:
Tue, 30 Oct 2007 16:26
|
MUMBAi (Thomson Financial) - Moody's Investors Service said it lowered TeliaSonera AB's senior unsecured debt ratings to 'A3/Prime-2' from 'A2/Prime-1' after the company reported its third quarter results for 2007.The Swedish telecom company's third-quarter EBITDA excluding non-recurring items fell slightly to 8.714 bln skr compared with 8.756 bln last year, dragged down by higher spending, aimed at future growth.The rating agency said the downgrade reflected the outlook for ongoing negative pressure on the group profitability and free cash flow, as well as the expectation that the group, in future, will operate with a higher financial risk profile due to its revised capital structure objectives and dividend policy.However, the 'A3' senior unsecured debt rating of TeliaSonera's subsidiary, TeliaSonera Finland Oyj was left unchanged.The ratings outlook on both TeliaSonera and TeliaSonera FO is stable.TFN.newsdesk@thomson.comrku/ssaCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
Print this Story
Yum Brands' note offering assigned 'Baa2' rating with negative outlook - Moody's 