Report
EUR 8536.00
For Business Accounts Only
Altice International (Equal Weight) Altice International: On a top down basis the current mkt value of debt can be supported
The Altice International bonds have underperformed SFR by c8% over the past 3 months or so. We think that is fair - SFR appears to be inching towards a deal with creditors that suggests some upside to lenders vs current prices (HERE), whilst International faces a threat from Digi in terms of share losses, falling front book prices (that have been cut again in the last week or so), and has less “get out of jail free cards” in our view.
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New Street Research
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
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We provide debt research on:
- Pan European Telecom Services and Cable
Russell Waller
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