Ono faces refinancing challenges

Spanish cabler Ono will face refinancing challenges within a couple of years, according to analysts.

The cabler is securing an extra €500m of debt, due in 2018, which has prompted credit ratings agency Moody’s to change its outlook on the MSO to “positive” from “stable”.

Senior Moody’s analyst Ivan Palacios noted its decision “reflects the progress the company is making in reducing its refinancing risk in 2013.” He added: “However, Moody’s also notes that Ono still faces material refinancing challenges in 2013.”