Pacnet's Fitch ratings may be upgraded if Telstra deal closes

Singapore

FITCH Ratings has placed Pacnet Limited on "rating watch positive" (RWP) following the Tuesday announcement that Australia's Telstra has agreed to acquire Pacnet. This means the possibility of an upgrade of Pacnet ratings.

Pacnet ratings may be upgraded if the deal closes and the legal, operational and strategic links between Telstra and Pacnet - including funding strategy - indicate that credit support would…