The outlook for RCS & RDS is stable and the central and eastern European MSO is expected to turn cash-flow positive this year, according to credit ratings agency Moodys.
The company has cable services in Hungary and Poland and DTH services in other CEE countries and MoodyÂs said that a strategic focus on triple play and broadband penetration will underpin revenue growth and profit margins.
However, MoodyÂs cautioned that RCS & RDSÂ modest size and the markets in which it operates present a risk. It noted: ÂThe rating is constrained by the company’s relatively smaller size compared to its similarly-rated peer group and its exposure to emerging market economies. Although we anticipate the company turning free cash flow positive in 2010, this remains a constraining factor on the rating at present.”
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