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Fitch stabilizes DKT view, pulls rating
Fitch Ratings said it revised DKT Holdings ApS' outlook to stable from negative while affirming the company's long-term issuer default rating at B-. Fitch also withdrew the rating.
The rating action follows execution of Nuuday's 500 million term loan B (TLB) financing and subsequent DKT-related financing transactions, a 500 million private HoldCo Facility at DK Telekommunikation Aps (DK Tele) level, and 475 million of equity proceeds from the ultimate owners. The Nuuday and DKT-related transactions were completed on terms largely in line with Fitch's expectations, the agency said in a press release.
The improved outlook reflects a bigger liquidity buffer and extended maturities of HoldCo debt, Fitch said.
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