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Research Update: MetroPCS Communications Inc. Assigned 'B-' Corporate Credit Rating With Stable Outlook Oct 06

  • ID: 1873588
  • October 2006
  • Standard & Poors

Abstract
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

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Note: Product cover images may vary from those shown

MetroPCS Communications Inc.,MetroPCS Wireless Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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