Recovery Report: MetroPCS Wireless Inc.'s Proposed $1.5 Billion Secured Bank Facilities Oct 06
- ID: 1872840
- October 2006
- Standard & Poors
On Oct. 9, 2006, Standard & Poor's Ratings Services assigned its 'B' rating to intermediate holding company MetroPCS Wireless Inc.'s proposed $1.5 billion of new secured bank loan facilities. The rating is one notch above the corporate credit rating of Dallas-based parent company MetroPCS Communications Inc. (MetroPCS). A recovery rating of '1' was also assigned, indicating prospects for full recovery of principal in the event of a payment default. These ratings are based on preliminary information and subject to receipt and review of the final bank loan documents. The facilities consist of a seven year $1.4 billion term loan B facility and a five-year $100 million revolving credit. Proceeds from these bank facilities, coupled with the issuance of $1.1 billion...
Companies mentioned in this report are: MetroPCS Communications Inc.,MetroPCS Wireless Inc.
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