Credit rating agency, India Ratings & Research (Ind-Ra) has affirmed Hathway Cable and Datacom long-term issuer rating at ‘A-’. The outlook is stable. The affirmation reflects the company’s reduced refinancing requirement on account of an equity infusion worth Rs 700 crore over FY14 and FY15.
The ratings also reflect the company’s directionally improving net average revenue per user from phase I & Phase II of the digitisation process which would improve Hathway’s net financial leverage to below 2.5x in the near term from 4.5x in FY14.
Hathway Cable and Datacom is a leading cable television services provider in India as well as one of the leading cable broadband services providers. It offers analog and digital cable television services across 125 cities and towns and high-speed cable broadband services across 18 cities, operating in geographical regions which it believes to constitute important markets for advertisers and broadcasters.
| Company Name | CMP |
|---|---|
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| Indus Towers | 415.95 |
| Tata Communications | 1541.50 |
| Bharti Hexacom Ltd. | 1520.20 |
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