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General

Moody's gives low rating to KPN rights issue

Thursday 28 February 2013 | 18:00 CET | News
Moody's has given a Ba1 long term rating to KPN's future rights issue, De Telegraaf reported. The credit rating agency have a negative outlook, saying the size and pay back of the company's hybrid debt remain dependent on market conditions. All the other KPN ratings and outlook remain unchanged. Fitch gave KPN's hybrid bonds, valued at EUR 1 billion, a BB-rating. KPN wants to raise a total of EUR 4 billion to reduce debt and to use for investments.

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Categories: General
Companies: KPN
Countries: Netherlands
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