Moody's Ratings ("Moody's") has today assigned a Ba1 backed long-term rating to the proposed subordinated EUR-denominated capital securities due 2054 (the hybrid securities) to be issued by British Telecommunications Plc (BT or the company, a subsidiary of BT Group Plc) under its EMTN Program. The o...
Rating Action: Moody's assigns a Ba1 rating to the new hybrid notes due 2081. Global Credit Research- 15 Nov 2021. London, 15 November 2021-- Moody's Investors Service has today assigned a Ba1 backed long-term rating to the proposed subordinated USD-denominated Capital Securities due 2081 to be issued by British Telecommunications Plc, a subsidiary of BT Group Plc. The outlook is negative.
Rating Action: Moody's assigns a Ba1 rating to BT's new hybrid securities. Global Credit Research- 10 Feb 2020. London, 10 February 2020-- Moody's Investors Service, has today assigned a Ba1 long-term rating to the proposed issuance of E500 million of Capital Securities due 2080 to be issued by British Telecommunications Plc, a subsidiary of BT Group Plc. The outlook is negative.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Following its 2016 acquisition of wireless carrier EE, BT has been the only telecom operator in the United Kingdom with the ability to offer fixed-line and wireless services without leasing network access from others. After three years, however, the benefits of this converged position have been modest, failing to overcome the regulatory, operational, and competitive challenges BT has faced. We believe the firm is gradually moving in the right direction, but progress will likely be slow. BT's rel...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
BT Group reported fiscal year-end results that were in line with our expectations, and we don’t anticipate any significant changes to our GBX 360 per local share fair value estimate. Our narrow moat remains intact, and we believe the shares are undervalued. Revenue declined 1% year over year with an adjusted EBITDA margin of 31.6%, right where we projected. However, guidance for fiscal 2020 calls for a revenue decline of 2% versus our expectation of flat revenue, and an EBITDA margin of 31.8%...
BT Group reported fiscal year-end results that were in line with our expectations, and we don’t anticipate any significant changes to our GBX 360 per local share fair value estimate. Our narrow moat remains intact, and we believe the shares are undervalued. Revenue declined 1% year over year with an adjusted EBITDA margin of 31.6%, right where we projected. However, guidance for fiscal 2020 calls for a revenue decline of 2% versus our expectation of flat revenue, and an EBITDA margin of 31.8% ...
When BT acquired EE, it became the only truly convergent telecom operator in the United Kingdom with the ability to offer fixed-line and wireless telephony, broadband, and pay TV on its own network. The U.K. has trailed several other European countries in moving to converged services, but we think this acquisition jump-starts that move. BT should benefit, as it controls the whole network, while others will need to wholesale at least some services from somewhere else. BT's best-performing divisio...
BT reported fiscal third-quarter revenue and EBITDA that was a bit better than our expectations, but the pension deficit widened by GBP 500 million, offsetting this improvement. Thus, we expect to maintain our GBX 360 per local share fair value estimate and narrow moat rating. We believe the shares are significantly undervalued. No financials were provided beyond EBITDA. The firm reported revenue fell 1% year over year during the quarter versus our full-year projection of a 1.9% decline. The con...
BT reported fiscal third-quarter revenue and EBITDA that was a bit better than our expectations, but the pension deficit widened by GBP 500 million, offsetting this improvement. Thus, we expect to maintain our GBX 360 per local share fair value estimate and narrow moat rating. We believe the shares are significantly undervalued. No financials were provided beyond EBITDA. The firm reported revenue fell 1% year over year during the quarter versus our full-year projection of a 1.9% decline. The co...
BT reported fiscal third-quarter revenue and EBITDA that was a bit better than our expectations, but the pension deficit widened by GBP 500 million, offsetting this improvement. Thus, we expect to maintain our GBX 360 per local share fair value estimate and narrow moat rating. We believe the shares are significantly undervalued. No financials were provided beyond EBITDA. The firm reported revenue fell 1% year over year during the quarter versus our full-year projection of a 1.9% decline. The con...
When BT acquired EE, it became the only truly convergent telecom operator in the United Kingdom with the ability to offer fixed-line and wireless telephony, broadband, and pay TV on its own network. The U.K. has trailed several other European countries in moving to converged services, but we think this acquisition jump-starts that move. BT should benefit, as it controls the whole network, while others will need to wholesale at least some services from somewhere else. BT's best-performing divisio...
BT reported in-line fiscal second-quarter results, and we expect to maintain our GBX 360 per local share fair value estimate and narrow moat rating. Despite the local shares being up over 8% on the news, we believe the stock remains significantly undervalued. The firm reported revenue fell 2% year over year versus our full-year projection of a decline of 1.9%. Once again, the consumer sector, which generates about 45% of net firmwide revenue, is driving revenue growth. We were particularly plea...
BT reported in-line fiscal second-quarter results, and we expect to maintain our GBX 360 per local share fair value estimate and narrow moat rating. Despite the local shares being up over 8% on the news, we believe the stock remains significantly undervalued. The firm reported revenue fell 2% year over year versus our full-year projection of a decline of 1.9%. Once again, the consumer sector, which generates about 45% of net firmwide revenue, is driving revenue growth. We were particularly plea...
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