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S&P: Cableuropa on developing watch
Standard & Poor's said it placed its CCC+ long-term corporate credit rating on Cableuropa SAU on Creditwatch with developing implications.
At the same time, the agency said it placed the CCC- rating on the senior unsecured debt issued by financing vehicles ONO Finance plc and ONO Finance II plc and guaranteed by Cableuropa on Creditwatch with developing implications.
The recovery rating on this debt is unchanged at 6.
"The Creditwatch placement follows Cableuropa's announced plans to refinance a large part of its debt and to raise funds from shareholders," said S&P credit analyst Patrice Cochelin.
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