Advanced Television


Fitch: Euro telecoms FCF to remain constrained

Free cash flow (FCF) for European telecoms will remain constrained in 2022, according to credit rating agency Fitch’s European Telecoms Watch – 4Q22, with risks to short-term forecasts likely to be low. FCF will remain constrained as capex investments for fibre deployments, 5G mobile networks, spectrum payments and IT overhauls peak during the course of […]

November 1, 2022

Fitch confirms Arqiva’s debts as “stable”

Fitch Ratings has affirmed UK transmission company Arqiva and its Arqiva Financing and Arqiva PP Financing plc’s whole business securitisation bonds at ‘BBB’. It has also affirmed Arqiva Broadcast Finance plc’s high-yield (HY) bonds at ‘B-‘. The Outlooks are Stable, says Fitch. Arqiva enjoys long-term RPI-linked contracts and a monopoly in terrestrial television and radio […]

August 2, 2022By Chris Forrester

Fitch: GES acquisition Neutral for SES rating

SES’s (BBB/Stable) planned acquisition of DRS Global Enterprise Solutions (GES), provider of commercial satellite communications to the US government, will have no impact on SES’s ratings, Fitch Ratings says. SES announced March 21st that it had entered into an agreement with Leonardo DRS, a US subsidiary of Leonardo S.p.A. (BBB-/Stable), to acquire GES for $450 […]

March 24, 2022

Fitch: BBB for SES, B+ for Intelsat

SES has received a favourable review from Fitch Ratings for its borrowings. Fitch says that SES’s long-term debt is rated at ‘BBB’ and its subordinated borrowings are rated at ‘BB+’. Fitch highlights the options that SES will shortly have from the FCC’s next C-band incentive payments of some $3 billion. Sandeep Jalan, CFO at SES, […]

March 14, 2022

Fitch: Orange, MásMóvil merger neutral to ratings

Orange Spain’s intention to merge its Spanish operations with MásMóvil in Spain will be neutral for the rating but will attract high EU competition and regulatory scrutiny due to resulting market consolidation, reports Fitch. Orange and MásMóvil have announced that they have entered into exclusive discussions to combine their businesses in Spain to create a […]

March 9, 2022

Fitch: “Intelsat’s ratings positive”

Financial ratings agency, Fitch Ratings, has assigned its verdict on Intelsat’s capital restructuring. Intelsat is likely to emerge from its Chapter 11 bankruptcy reconstruction shortly and is already in the process of arranging fresh financing and borrowing. Fitch says it has assigned a ‘B+’ rating on Intelsat’s Jackson Holdings SA sister company with a ratings […]

January 17, 2022By Chris Forrester