Recovery Report: Broadview Networks Holdings Inc.'s Recovery Profile Sep 11
- ID: 1922486
- September 2011
- Standard & Poors
Standard & Poor's Ratings Services has updated its recovery analysis on U.S. competitive local exchange carrier (CLEC) Broadview Networks Holdings Inc. in conjunction with the recent lowering of the company's corporate credit rating to 'CCC+' from 'B'. We lowered our issue-level rating on the company's secured notes to 'CCC' and the recovery rating remains unchanged at '5', following the review. Our simulated default scenario contemplates that better capitalized incumbent telephone companies accelerate their efforts to market and serve small-to-midsize business customers. The notes are guaranteed on a senior secured basis by each of the company's existing and future domestic restricted subsidiaries. The notes and the guarantees are secured by a lien on substantially all of the company's assets provided, however,...
Companies mentioned in this report are:
- Broadview Networks Holdings Inc.
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Research Type: Full Analysis