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Bulletin: Broadview Networks Holdings Inc. Ratings Unaffected By Cancellation Of Proposed Debt Tender Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 21, 2011--Standard & Poor's Ratings Services said today that its rating and outlook on Rye Brook, N.Y.-based competitive local exchange carrier Broadview Networks Holdings Inc. (B/Negative/--) are not immediately affected by the company's announcement that it had cancelled its proposed $300 million debt tender following its review of market conditions. The company has $17 million under a revolving credit facility due in February 2012 and $300 million of maturing secured notes due in September 2012. Given the magnitude of the latter maturity, we expect that the company will have to issue additional debt to refinance this obligation. As such, we will continue to assess its ability to refinance amid potentially adverse credit market conditions....
Companies mentioned in this report are: Broadview Networks Holdings 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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