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UPC Broadband Holding ?4.17 Billion Loan 'B' Debt And '3' Recovery Ratings Affirmed Feb 06 Product Image

UPC Broadband Holding ?4.17 Billion Loan 'B' Debt And '3' Recovery Ratings Affirmed Feb 06

  • Published: February 2006
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Feb. 24, 2006--Standard & Poor's Ratings Services said today it affirmed its 'B' long-term debt rating and '3' recovery rating on the -4.17 billion equivalent senior secured loan issued by UPC Broadband Holding B.V. (UPC; B/Stable/--), the pan-European cable business. At the same time, Standard & Poor's affirmed its 'CCC+' long-term debt rating on the -800 million of senior notes issued by related entity UPC Holding B.V., two notches below the corporate credit rating on UPC, and assigned a '5' recovery rating to the debt. "The '3' recovery rating on the senior secured loan indicates our expectation of meaningful recovery of principal, of 50% to 80%, for lenders in the event of a payment default," said...

Companies mentioned in this report are: UPC Broadband Holding B.V.,Cablecom Holdings AG,UPC Holding B.V.,Liberty Global Inc.
Action: Affirmed
Action: New Rating

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 READ MORE >

UPC Broadband Holding B.V.,Cablecom Holdings AG,UPC Holding B.V.,Liberty Global Inc.

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