EFTA Document EFTA01385484

3 January 2018 HY Corporate Credit l-lY Multi Sector.Media, Cable & Satellite Cable / Pay-TV: Market Weight Relative to the DB Index The alarm bells around the maturation of the Pay-TV industry have been going off for years. Despite clear headwinds that have undoubtedly had negative impacts on cash generation, management throughout the industry has done well in not only weathering the storm, but positioning their respective companies for the future. For the wired cable companies, the nat