Research Update: MetroPCS Communications Inc. Assigned 'B-' Corporate Credit Rating With Stable Outlook Oct 06
- ID: 1873588
- October 2006
- Standard & Poors
On Oct. 9, 2006, Standard & Poor's Ratings Services assigned its 'B-' corporate credit rating to Dallas-based wireless carrier MetroPCS Communications Inc. and its 'CCC' rating to intermediate holding company MetroPCS Wireless Inc.'s $1.1 billion of senior unsecured notes due 2014 to be issued under Rule 144A with registration rights. The outlook is stable. At the same time, we assigned a 'B' rating to MetroPCS Wireless Inc.'s $1.5 billion of first-lien bank loans, and a recovery rating of '1', indicating our expectation for full recovery of principal in the event of a payment default. (For the complete recovery analysis, see "Recovery Report: MetroPCS Wireless Inc.'s Proposed $1.5 Billion Secured Bank Facilities," to be published on RatingsDirect immediately following the release...
Companies mentioned in this report are: MetroPCS Communications Inc.,MetroPCS Wireless Inc.
Action: New Rating
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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