- Language: English
- Published: June 2013
Sat?lites Mexicanos S.A. de C.V. Ratings Remain on CreditWatch Negative Dec 02
- ID: 1802235
- December 2002
- Standard & Poors
NEW YORK (Standard & Poor's) Dec. 24, 2002-Standard & Poor's Ratings Services said today that its 'CCC+' corporate credit rating on Mexican satellite services company, Sat-lites Mexicanos S.A. de C.V. (Satmex) remains on CreditWatch with negative implications where it was placed on Nov. 8, 2002. Satmex's debt totals about US$530 million. "Although Satmex successfully completed its consent and waiver solicitations requested on Nov. 4, 2002, to amend its insurance covenant and the terms of the indenture that restricted Satmex's ability to amend the insurance covenant in the senior notes indenture, Standard & Poor's is still concerned with Satmex's financial profile because of its high debt levels coupled with lower revenues and cash flows, and tight liquidity," said Standard & Poor's...
Companies mentioned in this report are: Satelites Mexicanos, S.A. de C.V.,Innova S. de R.L. de C.V.
Action: CreditWatch Update
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Research type: News
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Satelites Mexicanos, S.A. de C.V.,Innova S. de R.L. de C.V.