Eutelsat’s debt may be downgraded over concerns about...
Eutelsat’s debt may be downgraded over concerns about the company’s deal to buy all of the “share capital” of Satmex for $831 million in cash, said Moody’s Thursday. The acquisition “will boost Eutelsat’s presence in Latin America, a competitive market…
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which offers good growth prospects,” said Assistant Vice President Gunjan Dixit of the ratings agency in an email to investors, but it “will lead to an increase in Eutelsat’s leverage.” Under review for downgrade are Eutelsat’s Baa2 issuer rating and a Baa3 senior unsecured bank credit line.