Eutelsat drops Moody’s ratings

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Eutelsat Communications has requested Moody’s Investors Service to withdraw all of its ratings on the satellite Group. This decision was made in the context of the Group’s ongoing cost rationalisation, says the company.

Eutelsat’s shares are listed on the Paris bourse.

Eutelsat is still rated by Standard & Poors (S&P Global Ratings BBB-/stable outlook1) and by Fitch Ratings (BBB/stable outlook2).

Eutelsat says its financial policy remains unchanged with a confirmed commitment to Investment Grade and an objective of a net debt/EBITDA ratio below 3.0x.

However, recent investment bank reports have also suggested that the satellite operator’s ability to meet its promised “stable guidance” may be a challenge, and Deutsche Bank on January 13th suggested that another cut to its 2019-2020 guidance “is possible”.

Moody’s most recent rating on Eutelsat SA is at Baa3, and its outlook was “Stable”.


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