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Recovery Report: MetroPCS Communications Inc.'s Recovery Rating Profile Mar 11
Standard & Poors, March 2011
Standard & Poor's Ratings Services has assigned its issue-level and recovery ratings on Richardson, Texas-based wireless provider MetroPCS Communications Inc.'s (MetroPCS) proposed $1.5 billion term loan due 2018 and its proposed $105 million revolving credit due 2016. The debt is being issued by its subsidiary MetroPCS Wireless Inc. The company intends to use the proceeds from the term loan to repay its $500 million term loan maturing in 2013 and for general corporate purposes, including opportunistic spectrum acquisitions. We also raised the ratings on MetroPCS' existing senior secured debt by one notch, reflecting the recent raising of the corporate credit rating to 'B+' from 'B'. We affirmed MetroPCS' 'B' unsecured debt rating, while revising its recovery rating to '5' from...
Companies mentioned in this report are: MetroPCS Communications Inc.,MetroPCS Wireless Inc.
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
MetroPCS Communications Inc.,MetroPCS Wireless Inc.