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Broadview Networks Holdings Inc. Downgraded To 'CCC+' On Refinancing Risk; Outlook Developing Sep 11
Standard & Poors, Sep 2011
Abstract
U.S. competitive local exchange carrier (CLEC) Broadview Networks Holdings has $300 million of senior secured notes due to mature Sept. 1, 2012. We consider the company's liquidity weak due to this refinancing risk. We are lowering the corporate credit rating to 'CCC+' and the secured notes rating to 'CCC'; The outlook is developing, indicating that we could raise the ratings if the maturity were to be addressed, or lower the ratings if a debt restructuring became more likely in our view. NEW YORK (Standard & Poor's) Sept. 19, 2011--Standard & Poor's Ratings Services today lowered its ratings on Broadview Networks Holdings Inc., including its corporate credit rating and issue rating on the company's secured notes, which we lowered to 'CCC+'...
Companies mentioned in this report are: Broadview Networks Holdings Inc.
Action: Downgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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