Standard & Poor's rating services has kept Vivendi Universal on "creditwatch with negative implications" despite the Franco-American media giant receiving a €3bn ($2.9bn) commitment for a medium-term credit line.

Guy Deslondes, a credit analyst in Standard & Poor's Milan office, remains concerned about Vivendi Universal's financial liquidity. "We acknowledge that the new credit line agreement is a strong and positive refinancing step, but Vivendi's medium-term financial liquidity will remain tight," he said.