BUSINESS

Fitch gives Wind Hellas a B- credit rating

TAGS: Technology

Fitch Ratings on Thursday assigned Largo Intermediary Holdings Limited (Wind Hellas) a B- final long-term issuer default rating (IDR), with a stable outlook.

Wind Hellas’s rating is supported by its experienced management team, a stabilizing Greek telecommunications market, and its position in both its cell and fixed-line offerings, Fitch said, also noting that Wind Hellas has a joint venture with Vodafone that allows for both cost sharing and network sharing in the development of their 2G/3G mobile network.

“These factors are offset by the significant challenges the firm and the Greek telecommunications market have experienced since the Greek debt crisis, and the strong competition provided by OTE and Vodafone,” Fitch stated.

[Reuters]

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