- Language: English
- 75 Pages
- Published: September 2013
- Region: Global
Research Update: MTL Publishing Rated 'B+'; Outlook Positive; Secured Credit Facilities Rated 'BB-' (Recovery Rating: 2) Jan 12
- Published: January 2012
- Standard & Poors
MTL Publishing LLC (EMI Music Publishing) is being acquired for $2.2 billion by an investor group led by Sony Corp. and Mubadala Development Co. We are assigning our 'B+' corporate credit rating to MTL Publishing with a positive rating outlook. In addition, we are assigning the company's $1.125 billion senior secured credit facilities an issue-level rating of 'BB-' with a recovery rating of '2'. The positive rating outlook reflects the potential for an upgrade over the next 12 months if we become convinced that fully adjusted leverage will decline to at least the mid-5x area by fiscal 2014. On Jan. 27, 2012, Standard & Poor's Ratings Services assigned its 'B+' corporate credit rating to music publisher MTL Publishing (EMI). The...
Companies mentioned in this report are: MTL Publishing LLC
Action: New Rating
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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MTL Publishing LLC