This follows United Group's successful sale of its tower assets
United Group, the leading multi-play telecommunications and media company in Southeast Europe, is pleased to announce that ratings agencies S&P Global and Moody's have positively revised their outlooks for the company.
S&P Global has upgraded United Group's outlook from stable to positive, while Moody's has adjusted its outlook from negative to stable.
This follows United Group's successful sale of its tower assets in Bulgaria, Croatia, and Slovenia for €1.22 billion or 20.1 x EBITDA to TAWAL. The proceeds from this transaction are being used to address upcoming debt maturities and significantly reduce debt and leverage.
United Group views these decisions as an endorsement of the company's successful strategic initiatives including its expansion into the Greek and Bulgarian markets. The company remains committed to enhancing its financial stability and pursuing growth opportunities, while also investing in future technologies and expanding its footprint.
Victoriya Boklag, CEO of United Group, said:
"The sale of our tower assets has allowed us to optimize our capital structure, strengthen our financial position, and successfully navigate global macro-economic pressures. We remain focused on executing our growth strategy and delivering innovative and high-quality service to our customers. We are delighted that this success has been recognised by S&P and Moody’s."
ENDS
About United Group:
Dutch-based United Group is the leading telecommunications and media operator in South-East Europe. Active in eight countries, the company has more than 15 million users and nearly 15,000 employees. It generates almost €2.7 billion in annual revenues. United Group has the widest network coverage in the region and offers users the most attractive selection of TV content from around the world. Significant investments in digital infrastructure, content and technology ensure the excellence of the products and services it provides to customers. United Group has been majority owned by BC Partners, one of the largest global investment companies, since March 2019. For more information visit https://united.group/
Forward-looking Statements
The information contained in this release may contain forward-looking statements. These statements involve elements of subjective judgment and analysis and are based upon the best judgment of United Group as of the date hereof. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties, as there are a variety of factors that may cause actual events and developments to differ materially from any future events and developments expressed or implied by such forward-looking statements. Therefore, you should not rely on these forward-looking statements. Neither United Group nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this release or to update or keep current any of the information contained herein and this release is not a representation by the Issuer or any other person that they will do so, except to the extent required by law.
