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Summary: EarthLink Inc. Nov 11
Standard & Poors, Nov 2011
Abstract
The ratings on EarthLink Inc. reflect the highly competitive nature of the business-oriented telecom markets in which it operates and Standard & Poor's Ratings Services' expectations for ongoing substantial revenue and EBITDA declines in its consumer Internet service business. The company also faces possible integration risks, with its acquired telecom service providers ITC DeltaCom and One Communications Inc., which, in our view, could prompt customer service issues and accelerated churn, the latter being an ongoing challenge for all companies in this space. These factors translate into a vulnerable business position. EarthLink is a telecom provider that has expanded from a concentration on consumer Internet access to a focus on Internet protocol (IP)-based communications services largely to small and midsize businesses...
Companies mentioned in this report are: EarthLink Inc.
Action: Review
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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