|
Fitch |
Moody's |
S&P |
| Long-term rating |
BBB |
Baa3 |
BBB |
| Outlook |
Stable |
Positive |
Stable |
| Short-term rating |
- |
P-3 |
A-2 |
| Latest change |
8 June 2016 |
31 May 2024 |
29 March 2019 |
Change of Control
All hybrid securities and Eurobonds issued as of 2006 contain a change of control event by means of which KPN may be
required to redeem these outstanding notes early, in the event that the Change of Control occurs (acquiring direct
or indirect >50%) and within the change of control period a rating downgrade to non-investment grade occurs in
respect of that change of control.
Capital resource covenants
In addition, many of our capital resources contain a covenant prohibiting us to enter into any amalgamation,
demerger, merger, corporate restructuring or reorganization, unless prior written consent has been given by the
lenders or noteholders (e.g., as in the EUR 1 billion sustainability-linked revolving credit facility) or the
resulting company assumes all of our rights and obligations with respect to the notes.
Disclaimer Credit rating
KPN does not affirm any of the ratings or opinions of Fitch, Moody’s or Standard and Poor’s and does not accept any
responsibility for the accuracy and timeliness of this information.