Cable TV

ICRA upgrades Siti Cable's long term rating to A-

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/cable_tv_images/2016/05/02/Untitled-2.jpg?itok=nWsGfYJZ

MUMBAI:  Long term rating on term loans for Siti Cable Network Limited, an Essel Group Company, has been upgraded by credit rating agency ICRA. ICRA has upgraded the long-term rating of Siti Cable to [ICRA] A- from [ICRA] BBB+. Further ICRA has a [ICRA] AA (SO) outstanding rating on the term loan facility of Siti Cable. The outlook on the ratings is 'stable'.

Siti Cable ED and CEO V D Wadhwa said,“We welcome this upgrade in SITI Cable’s credit rating and thank ICRA for re-affirming SITI Cable’s growth story. Improvement in profitability, growth in Digital Subscriber base, continuous focus on operational excellence and promoter’s confidence in sustainable growth of the company, have all been the drivers for SITI Cable’s growth. SITI Cable has been at the forefront in offering great value to customers through video and broadband services.” 

The rating upgrade takes into account the recent equity infusion from the promoter group (Rs. 530 crores in February 2016) and the improving operating performance of Siti Cable, which is expected to result in an improvement in the credit profile of the company. ICRA also noted that being an Essel Group entity, Siti Cable has been benefitting from regular financial support from the promoter group. The promoters had infused fresh funding in Q3-2016 (quarter ended 31 December 2015).

While the transitioning of the cable TV system in India from analog to digital is underway, ICRA reinforced the belief that Siti Cable’s execution risk is mitigated by the management team’s extensive experience in various areas of the television and media industry. The rating also factors in Siti Cable’s `status as one of the largest multi system operators (MSOs) in India in terms of its cable universe of 1.22 crore subscribers as of December 201) and revenues Rs  905.9 crore in FY-2015 (year ended 31 March 2015) as well as the high growth potential of digital cable services in India.

ICRA has also noted Siti Cable’s significant investments in consumer premise equipment towards conversion of analog subscribers to digital.

Buoyed by DAS Phase III, Siti Cable achieved a financial turn-around for the first time by reporting Profit Before Tax of Rs 56 crore in Q3-2016.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/04/18/Siti_Networks.jpg?itok=IE4VtCze
Siti Networks responds to TRAI directive to comply with new tariff order

Leading multi system operator (MSO) Siti Networks on Wednesday issued a clarification, a day after the directive from Telecom Regulatory Authority of India (TRAI) to it and other distribution platform operators (DPOs) to abide by all the norms of the new tariff order within five days.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/04/17/den.jpg?itok=gw_i99K7
Den reports lower broadband, placement and activation income for FY2019

After the roll in of the Jio juggernaut, things have never been the same for the Indian broadband internet services industry.  It’s déjà vu - Den Networks Ltd (Den) reported lower subscription numbers for its fixed broadband business for the quarter and year ended 31 March 2019 (Q4 2019, FY 2019,...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/04/16/hathway.jpg?itok=lC9XxIEW
Exceptional items pull down Hathway Cable numbers for FY2019

Hathway Cable and Datacom Ltd’s (Hathway Cable) says that the new Telecom Regulatory Authority of India (TRAI) tariff order (NTO), which came into effect during the fourth quarter of 2019 resulted in changes in pricing mechanism and arrangements amongst the company, LCOs and broadcasters as well as...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/04/01/sn-sharma01.jpg?itok=5iccmGVq
Den Networks CEO SN Sharma takes over from Hathway’s Rajan Gupta as AIDCF president

All India Digital Cable Federation (AIDCF), the apex body of digital cable television players, announces the appointment of Mr. S N Sharma (CEO – Den Networks Limited) as the new President of the Federation with effect from 1st April 2019 post expiration of term of Mr. Rajan Gupta – current...

Cable TV People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/09/kerala.jpg?itok=sAb2H5Tl
Kerala Vision partners Y&A Transformation for new revenue streams

After establishing itself in Kerala with 24 lakh TV homes, Kerala Vision Cable (KV) is looking to expand its revenue streams.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/09/Den-Networks-Cable.jpg?itok=Ucbf4rMI
Reliance Jio acquires another 12% of Den Networks

Under disclosures of SEBI Regulations for Substantial Acquisitions of Shares and Takeovers (SAST), three Reliance Jio companies have informed the stock exchanges that they have increased their holdings in Indian multi system operator (MSO) Den Networks from 66.57 percent to 78.62 percent or...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/06/tv.jpg?itok=v_CYMzY1
Cable subscribers switching to DTH platforms amid new tariff order implementation

While the Telecom Regulatory Authority of India (TRAI) continues to reiterate that its new tariff order will benefit all stakeholders of the cable and broadcasting industry, implementation of the new norms has witnessed a mixed response on the ground.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/01/ortal.jpg?itok=DguSYgTT
Ortel CFO Satyanarayan Jena steps down

Satyanarayan Jena, the chief financial officer of the MSO Ortel Communications has stepped down. The resignation of the executive was effective from yesterday.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/26/mix.jpg?itok=1i2adFdQ
One Take Media Co launches K-World first time in India on IMCL platform

Leading multi-system operator (MSO) and Headend-in-the-sky (HITS) platform company IndusInd Media & Communications Limited (IMCL) has partnered with One Take Media Co (OTMC) to launch K-World (Korean Language) first time in India.

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories