Moody’s knocks cabler NTL’s credit

Co. may not be able to meet interest payments on debt

LONDON — NTL, the U.K.’s largest cabler, has had its credit rating downgraded because of concerns that it will not be able to meet the interest payments on its £12 billion ($16.4 billion) debt.

The lowering, made by debt-rating agency Moody’s Investors Service, marks another blow to Europe’s already troubled cable sector.

Analysts said NTL will have to execute a near-perfect business plan over the coming years in order to ride out its difficulties. A key, and long-anticipated, move would be to merge with Telewest, Britain’s No. 2 cabler.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading