S&P Global and Moody’s have positively revised their outlooks for United Group, the leading multi-play telecom and media company in Southeast Europe.
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 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.
According to United Group, it 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”.