Today, TDC A/S announces that Standard & Poor's has upgraded TDC A/S' long-term corporate credit ratings to BBB from BB and its short-term rating to A-2 from B. The Outlook is stable.
The upgrade follows from the completion of the Sunrise disposal and the subsequent repayment of debt and the adoption of a new financial policy of a maximum net debt to EBITDA of 2.1x announced in connection with the recently completed offering of TDC shares by NTC, see TDC's company announcement 32-2010.
The credit rating of TDC's senior secured debt facilities is upgraded to BBB from BBB-. At the same time the credit rating of TDC's EMTN notes is upgraded to BBB- from BB.
TDC A/S
Teglholmsgade 1-3
0900 Copenhagen C
DK-Denmark
tdc.com
