Research Update: Entercom Communications Rated 'B+', Outlook Stable; Credit Facilities And Senior Notes Also Rated Dec 11
- ID: 2033585
- December 2011
- Standard & Poors
Bala Cynwyd, Pa.-based radio broadcaster Entercom Communications Corp. has completed the refinancing of its existing debt. We are assigning the company a corporate credit rating of 'B+' with a stable outlook. We are also assigning ratings to the company's debt, rating its senior secured credit facilities 'BB-' with a recovery rating of '2' and its senior unsecured notes 'B-' with a recovery rating of '6'. The stable rating outlook reflects our view that the company will be able to maintain adequate liquidity and compliance with financial covenants, despite risks surrounding longer-term secular trends in radio. On Dec. 16, 2011, Standard & Poor's Ratings Services assigned its 'B+' corporate credit rating to Entercom Communications Corp. and its subsidiary, Entercom Radio LLC....
Companies mentioned in this report are: Entercom Communications Corp.,Entercom Radio LLC
Action: New Rating
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Product Type: Research Update
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Entercom Communications Corp.,Entercom Radio LLC