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Universal City Development Partners Ratings Raised, Placed On CreditWatch Positive On Announced NBCUniversal Acquisition Jun 11
Standard & Poors, June 2011
NBCUniversal has entered into an agreement with The Blackstone Group to purchase its 50% ownership in Universal City Development Partners Ltd. (UCDP), and the purchase will be funded entirely at NBCUniversal. We are raising our ratings on UCDP by two notches, including raising our corporate credit rating to 'BB-' from 'B', and placing all ratings on CreditWatch with positive implications. The upgrade reflects strong trends in operating performance, which we believe will continue at least through 2011 and result in UCDP's financial risk profile supporting the higher ratings on a stand-alone basis. The CreditWatch listing reflects the potential for further rating upside once we have greater clarity around the intended capital structure at UCDP upon close of the transaction and...
Companies mentioned in this report are: Universal City Development Partners Ltd.
Action: On CreditWatch:Positive
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: News
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Universal City Development Partners Ltd.