Moody's ups Vivendi Universal

Moody's Investors Service said it upgraded the senior implied rating of Vivendi Universal to Ba1 from Ba2 and the company's senior unsecured debt ratings to Ba1 from Ba3.

The outlook is positive.

Moody's said the upgrades recognize the benefits for the company from the recently completed merger between the company's Vivendi Universal Entertainment unit and NBC (to form NBCU) which resulted in significant net debt reduction (€5 billion after closing cash adjustment and deconsolidation of debt) and provides Vivendi Universal with further exit windows from 2006 onwards. It also acknowledges a degree of clarification in the company's strategy with the current array of activities in both the media and the telecommunications sectors likely to be continued in the medium term.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.