Type of ratings: Corporate

Rating value: BB-

Outlook: Stable

License: EthiFinance Ratings


EthiFinance Ratings affirms Avatel Telecom's rating in BB- , maintaining its Stable outlook. Avatel Telecom (and its subsidiaries) is the fifth fiber optic operator nationwide, specialized in bringing broadband coverage to small and medium-sized areas through the deployment of its own fiber optic (FTTH or Fiber to the home). The company, which operates solely in Spain, also offers pay television services, Wimax, and has recently become a full virtual operator for Telefónica. At the end of the 2021 financial year, the company presented a turnover of € 190.9MM (+144.9% YoY) with an EBITDA Proforma of € 88.6MM (€ 65.7MM EBITDA Proforma Adjusted), reporting an Adjusted NFD/EBITDA Proforma ratio of 5.8x.


Rating action: Affirmed

Action date: 05/05/2023

Date last rating: 05/05/2023

Date first rating: 26/01/2022


Executive summary:


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