COPENHAGEN, Denmark, Feb. 26, 2001 (PRIMEZONE) -- Standard & Poor's has given TDC Group (NYSE:TLD) a long-term credit rating of A with a stable outlook.
Standard & Poor's notes in their review that TDC's acquisition in Switzerland creates the second largest telecommunications player in the Swiss market - a market that is characterized by favorable growth. The Swiss acquisition has increased TDC's leverage.
The ratings continue to be supported by TDC's leading position in the Danish telecommunications market - a market in which TDC is expected to remain strong, thanks to its large scale advantages and its control of the access network.
Standard & Poor's rating assumes that TDC will maintain an EBITDA coverage ratio of 8 times and a net debt-to-EBITDA ratio of below 2.5 times in the medium term.
On this background Standard & Poor's changed the long-term credit rating to A from AA and with stable outlook.
The short-term credit rating was changed to A-1 from A-1-plus.