Moody’s could raise the rating Numericable – Le Figaro

The rating agency Moody’s said Thursday it has assigned a rating “B1″ the Altice Group, together with a “stable” outlook, and its subsidiary Numericable put under surveillance for a recovery, pending finalization of acquisition of SFR.

About Altice, Moody’s has assigned this note in a “provisional pending final sale” Vivendi SFR, which reflects his opinion on this transaction, Moody’s said in a statement.

After this operation, the agency will issue its final note.

In a separate statement, the rating agency also announced that Numericable placed on review for a possible increase.

Moody’s anticipated after the completion of the takeover, “expected in the fourth quarter of 2014,” the review of the situation should lead or increase its rating by one notch to Ba3 against B1.

The U.S. rating agency Moody’s raised Tuesday “negative “to” stable “the outlook of Vivendi, after the announcement of the proposed sale of SFR Altice / Numericable that values ??its telecom subsidiary to 17 billion euros.

Vivendi accepted the offer Saturday of Altice / Numericable, who proposed its subsidiary SFR 13.5 billion in cash on completion of the transaction and that any additional price of € 750 million. Vivendi also receive a 20% stake in the new entity to be born of the merger SFR / Numericable.

Vivendi and Numericable hope closing the sale of SFR before the end of 2014 or early 2015.