Recovery Report: GCI Inc. Recovery Rating Profile

  • ID: 1785687
  • May 2008
  • Standard & Poors
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On May 9, 2008, Standard & Poor's Rating Services lowered its issue level rating on GCI Inc.'s senior unsecured debt to 'B' (two notches below the 'BB-'corporate credit rating) from 'B+' and revised its recovery rating to '6' from '5', indicating expectations for negligible (0% to 10%) recovery in the event of payment default. The recovery rating revision reflects the increase in secured debt following the company's $145 million tack-on term loan, which reduces recovery prospects for GCI's senior unsecured debt. (For the complete corporate credit rating, please see "GCI Senior Unsecured Debt Rating Lowered To 'B', Recovery Rating Revised To '6'" published earlier today on RatingsDirect.) Our simulated default scenario envisions: Lower revenue and EBITDA as a result of...

Companies mentioned in this report are: GCI Inc.,Alaska Communications Systems Holdings 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.,Alaska Communications Systems Holdings Inc.

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