Recovery Report: Mitel Networks Corp.'s Recovery Rating Profile Jun 11
- ID: 1823624
- June 2011
- Standard & Poors
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.
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