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Recovery Report: MetroPCS Wireless Inc.'s Proposed $1.5 Billion Secured Bank Facilities Oct 06

  • ID: 1872840
  • October 2006
  • Standard & Poors
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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.

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

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MetroPCS Communications Inc.,MetroPCS Wireless Inc.

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