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Broadview Networks Holdings Inc. Downgraded To 'CCC+' On Refinancing Risk; Outlook Developing Sep 11 Product Image

Broadview Networks Holdings Inc. Downgraded To 'CCC+' On Refinancing Risk; Outlook Developing Sep 11

  • Published: September 2011
  • Standard & Poors

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 READ MORE >

- Broadview Networks Holdings Inc.

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