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Bulletin: Avaya Inc. Ratings Unaffected By IPO Filing Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that its ratings on U.S. business communication systems provider Avaya's (B-/Stable/--) filing for an initial public offering (IPO) of stock do not immediately affect our ratings on the company. In a registration statement filed June 9, 2011, Avaya Holdings Corp. said it could raise up to $1 billion from the IPO to repay long-term indebtedness, redeem all of its series A preferred stock, and to pay certain amounts in the termination of its management services with its financial sponsors, Silver Lake and TPG Capital. Although the execution of the IPO and the amount of debt reduction are uncertain, we believe the transaction, if successful, would be...
Companies mentioned in this report are: Avaya Inc.
Action: Bulletin
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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