Ono refinancing prompts upgrade

Influential credit ratings agency Moody’s has upgraded its outlook for Ono after the Spanish MSO completed a planned round of refinancing.

The package of refinancing measures eases financial pressure on the Spanish company and gives it short-term flexibility, Moody’s said. It added that there is the potential to further upgrade Ono “if management shows that they can execute the revised business plan against the backdrop of a tough economic environment in Spain.”