Recovery Report: GCI Inc.'s Recovery Rating Profile
Standard & Poors, December 2010
Abstract
Standard & Poor's Ratings Services has updated its recovery analysis on GCI Inc. as part of ongoing surveillance. Our issue-level and recovery ratings remain unchanged. Our simulated default scenario envisions a decline in revenue and EBITDA due to increased competition in the wireline and wireless businesses as well as continued pricing pressure and reduced traffic in the network access segment. We assume the company is reorganized following default and has an approximate enterprise value of $519 million. The loan agreement for the secured facility permits the company to seek commitments to upsize the facility by up to $50 million to an aggregate amount of no more than $125 million. Any incremental facilities above the contemplated $75 million are not committed...
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
GCI Inc.
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