LONDON-Standard & Poor’s Inc. assigned a double `B’ long-term corporate credit rating to Polish cellular operator Polska Telefonia Cyfrowa. The ratings firm said it also expects to assign a single `B’ rating to the senior subordinated notes to be issued by PTC International Finance B.V.
The ratings reflect PTC’s strong position in a rapidly growing Polish cellular market and its efficient market strategy and operations, said Standard and Poor’s. These strengths are offset in part by the company’s high debt levels, negative coverage ratios and considerable investment needs.
