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General

Telefonica outlook upgraded to stable by Moody's

Thursday 26 March 2015 | 09:44 CET | News
International ratings agency Moody's has changed the outlook on Telefonica's ratings and its guaranteed subsidiaries from "negative" to "stable". In a statement Moody's said the change reflected expectation of an improved operating environment in Spain, which will drive better revenue trends, as well as the expected use of the cash proceeds from the recently announced sale of Telefonica's UK subsidiary O2 UK to improve leverage. It added that the stable outlook is a response to Telefonica's commitment to a maximum reported leverage of 2.35x and also factors in the group's international

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Categories: General
Companies: O2 UK / Telefonica
Countries: Spain / World
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