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12 Jun 2019, Gergana Bencheva, EMIS Editor

Moody’s raises rating of Cyfrowy Polsat to “Ba1”

Moody’s has raised the credit rating of Polish broadcasting group Cyfrowy Polsat to “Ba1” from “Ba2”, PAP Market Insider reported. The rating outlook was also upgraded to positive from stable.

The agency explained its decision with the strengthening of the group's key credit metrics over the last two years and its market-leading positions in the broadband sector Also, Moody’s underlined Cyfrowy Polsat’s ambition to reach a net debt/EBITDA leverage of 1.75x over the medium-term combined with strong and stable free cash flow generation.

According to the credit agency, some positive rating pressure is unlikely in the mid-term given the company’s small scale relative to similarly-rated peers and its concentration in Poland. Yet, the situation can change if the provider demonstrates sustained revenue, EBITDA and margin improvement, PAP Market Insider added.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: PAP Market Insider