Moody’s changed the outlook on Wind Tre S.p.A to stable from positive

Deniz Kılınç / İstanbul, May 4 (DHA) – Moody’s has changed the Wind Tre S.p.A’s outlook to stable from positive.
Following the update on the outlook, Moody’s has also affirmed the company’s B1 corporate family rating (CFR), the B1-PD probability of default rating (PDR) and the B1 rating on the senior secured notes and Term Loan A.
While the change in outlook to stable from positive reflects the increasing competetive pressures in Italy ahead of Iliad’s entry, Wind Tre Vice President-Senior Credit Officer and lead analyst Laura Pérez evaluated the ratings as follows: "The decision to change the outlook on Wind Tre's ratings to stable from positive reflects the deterioration in revenues and EBITDA over the second half of 2017 driven by pricing pressures ahead of the upcoming entry of Iliad.
"These pricing pressures, if sustained overtime, could more than offset the benefit from the additional revenues from the roaming agreement with Iliad and from the cost savings from the merger of WIND and H3G."