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Recovery Report: Mitel Networks Corp.'s Recovery Rating Profile Jun 11
Standard & Poors, June 2011
On June 10, 2011, Standard & Poor's Ratings Services updated its recovery analysis on Ottawa-based telephony equipment/software provider Mitel Networks Corp. (Mitel; B/Stable/--) in conjunction with its review of the corporate credit rating on the company. Our simulated default scenario envisions a default that would likely result from increased competition from larger competitors or from a slowdown in demand for telephony products. We assume the company would reorganize or be sold as a going concern versus liquidating in the event of default given Mitel's broad customer base and its position as a vendor of products and services that are essential to these customers. The borrower of the term loans is wholly owned subsidiary Mitel U.S. Holdings Inc. The co-borrowers of...
Companies mentioned in this report are: Mitel Networks Corp.
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
Mitel Networks Corp.