KDG makes progress with debt reduction

German cable operator Kabel Deutschland (KDG) is making faster than expected progress towards reducing its debt, according to press reports.

CEO Adrian von Hammerstein told the Financial Times that the company was thinking about changing its debt-to-EBITDA ratio target from between 3.5 and four to between three and 3.5, aided by strong sales of high-speed broadband. KDG currently has net debt of about 4.1 times EBITDA.

Von Hammerstein said KDG would consider using its cash to acquire other cable operators.