- Language: English
- Published: September 2012
Recovery Report: GCI Inc.'s Recovery Rating Profile
- ID: 1785669
- March 2008
- Standard & Poors
Standard & Poor's Ratings Services today assigned recovery ratings to GCI Inc.'s unsecured debt issues and raised the issue-level rating on this debt. The issue-level rating was raised one notch to 'B+' (one notch lower than the 'BB-' corporate credit rating on the company) from 'B', and a recovery rating of '5' was assigned to this debt, indicating the expectation for modest (10%-30%) recovery in the event of a payment default. In addition, the company has a $312 million senior secured credit facility, which we do not rate. Our simulated default scenario envisions: Lower revenue and EBITDA as a result of increased competition, primarily from the incumbent local exchange carrier Alaska Communications Systems Holdings Inc.; Discretionary cash flow losses due...
Companies mentioned in this report are: GCI Inc.
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Research Type: Full Analysis