Recovery Report: GCI Inc.'s Recovery Rating Profile

  • ID: 1785669
  • March 2008
  • Standard & Poors
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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.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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GCI Inc.

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