Moody's changes DKT outlook to stable

Moody's Investors Service said it changed to stable from negative the outlook on the ratings of DKT Holdings ApS and its subsidiaries DKT Finance ApS and TDC Holding A/S.

Concurrently, the agency affirmed the company's B3 corporate family rating and B3-PD probability of default rating, the Caa2 ratings on the €1.05 billion and $410 million backed senior secured notes issued by DKT Finance both due in June 2023, the (P)B3 rating on the senior unsecured euro medium-term note program of TDC and the B3 rating on the £425 million of senior unsecured notes due February 23, issued under the EMTN program.

"The outlook change to stable from negative reflects DKT's improved liquidity following the successful refinancing of the high-yield bonds raised by DKT Finance, which are due in June 2023," said Carlos Winzer, a Moody's senior vice president and lead analyst for DKT, in a press release.

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