Madrid, January 27, 2015 -- Moody's Investors Service has today placed on review for upgrade the B1 corporate family rating (CFR) and B1-PD probability-of-default rating (PDR) of Sunrise Communications Holdings S.A. (Sunrise). The ratings on the existing debt instruments issued by Sunrise and its related entities are unaffected by the review; the existing debt instruments are expected to be repaid as part of a recapitalisation of the firm under which new equity and debt instruments will be issued. The rating action follows the announcement that Sunrise's newly incorporated holding company, Sunrise Communications Group AG (SCG), has launched an initial public offering (IPO) of its shares on the SIX Swiss Exchange.

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